Corporate Transparency: New Rules for Reporting Global Profits and Taxes
To amend the Securities Exchange Act of 1934 to require country-by-country reporting.
The House Committee on Financial Services received this bill on July 16, 2026. It has not moved since that date and remains in the early stages of the legislative process. The committee must choose to review or vote on the bill before it can move forward.
Companion bill: Corporate Taxes: New Reporting Rules for International Profits →This bill faces significant hurdles because large business groups often oppose public disclosure of their detailed financial and tax information.
This bill’s path across every version that has carried it.
Companion
Identical companion bill S. 5019 (119th) was introduced in the other chamber.
S. 5019 (119th) →Scores run from -100 (strongly harmful) to +100 (strongly beneficial) for each group, combining impact, certainty, scope, and duration ratings of 1-5. How impact scoring works
The reporting requirement only applies to issuers that are part of large multinational enterprise groups meeting a revenue threshold set by the SEC, so most small businesses are excluded entirely. Small businesses that compete with large multinationals could see modest indirect benefit if the disclosures reduce competitors' tax avoidance advantages, but the effect is speculative and small.
“the term `covered issuer' means an issuer that is a member of a multinational enterprise group that has annual revenue for the preceding calendar year of not less than an amount determined by the Commission”
Referred to the House Committee on Financial Services.
Introduced in House
The bill was officially filed and given a number. It now enters the legislative queue.
Democratic lawmakers reintroduced the Disclosure of Tax Havens and Offshoring Act, which would require U.S. multinational companies to publicly disclose financial information, including profits, taxes, employees, and tangible assets, for every country where they do business.
An editorial criticizing the current legislative landscape, noting the reintroduction of the Disclosure of Tax Havens and Offshoring Act by Sen. Chris Van Hollen and Rep. Brittany Pettersen as part of a broader push for corporate transparency that the board argues adds regulatory burdens.
Reports on the strategic reintroduction of the Disclosure of Tax Havens and Offshoring Act, noting that Democrats may offer the bill as an amendment to the 'One Big Beautiful Bill Act' (OBBBA) to force a vote on corporate tax transparency and offshoring practices.
No votes recorded for this bill yet.
Document Type
Congressional Bill
Official Title
To amend the Securities Exchange Act of 1934 to require country-by-country reporting.
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