US House passes bill that could shine a 'spotlight' on corporate tax avoidance

The U.S. House of Representatives has passed a new piece of legislation that could make multinational corporate taxes much more transparent and shine a "spotlight" on tax avoidance tactics.

Credit: WikiMedia Commons

In its current form, the Disclosure of Tax Havens and Offshoring Act would require large corporations registered with the SEC to disclose taxes paid and other financial information about their operations and subsidiaries on a country-by-country basis.

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