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Disclosure of Tax Havens and Offshoring Act
2/5/2024, 7:36 PM
Congressional Summary of S 638
Disclosure of Tax Havens and Offshoring Act
This bill requires certain members of a multinational enterprise group that are also issuers of securities to annually disclose information related to the tax jurisdiction, income, and assets of their constituent entities on a country-by-country basis. (Multinational enterprise groups have two or more entities with different tax jurisdictions.)
Read the Full Bill
Current Status of Bill S 638
Bill S 638 is currently in the status of Bill Introduced since March 2, 2023. Bill S 638 was introduced during Congress 118 and was introduced to the Senate on March 2, 2023. Bill S 638's most recent activity was Committee on Banking, Housing, and Urban Affairs. Hearings held. as of September 12, 2023
Bipartisan Support of Bill S 638
Total Number of Sponsors
1Democrat Sponsors
1Republican Sponsors
0Unaffiliated Sponsors
0Total Number of Cosponsors
11Democrat Cosponsors
10Republican Cosponsors
0Unaffiliated Cosponsors
1Policy Area and Potential Impact of Bill S 638
Primary Policy Focus
Finance and Financial SectorPotential Impact Areas
- Administrative law and regulatory procedures
- Foreign and international corporations
- Securities
- Securities and Exchange Commission (SEC)
- Tax administration and collection, taxpayers
- Taxation of foreign income
Alternate Title(s) of Bill S 638
Disclosure of Tax Havens and Offshoring Act
Disclosure of Tax Havens and Offshoring Act
A bill to amend the Securities Act of 1934 to require country-by-country reporting.
Comments
Sponsors and Cosponsors of S 638
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