This suggests companies are beginning to internalize a broader shift—recognizing that tax risks, perhaps once buried in boilerplate language, now belong in the foreground. Investors want more information about effective tax rates and where exposure may lie. Registrants are responding in kind.
GRI and the Global Push for Accountability
Regulatory pressure isn’t the only force reshaping this space. More international frameworks are emerging. Chief among them is the Global Reporting Initiative’s (GRI) Tax Standard, which provides a framework for organizations to disclose information about their tax practices publicly. Once the domain of ESG (environmental, social and governance) activists and European multinationals, the GRI’s influence has reached the shores of U.S. markets.
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