That has become clear in the growing number of shareholder proposals requesting tax transparency reports aligned with the GRI framework. The shareholders of companies such as Amazon, ExxonMobil, and Bristol-Myers Squibb have all fielded such proposals, with mixed outcomes. While some attempts by the companies to exclude proposals have succeeded, the failures of others indicate the Securities and Exchange Commission views some tax disclosure demands as transcending “ordinary business” concerns.
Compliance officers now know shareholders in the U.S. and abroad expect a higher degree of transparency.
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