Group Urges Australia to Require Country-By-Country Reporting

Australia should require large multinational companies to report the taxes they pay in each jurisdiction where they operate, to ensure they aren’t trying to avoid taxes and to give investors more clarity, a prominent shareholder consultancy said Thursday.

UK-based Pension & Investment Research Consultants Ltd. said Australia’s Treasury should mandate public country-by-country tax reporting. The country-by-country rules should be along the lines of the Global Reporting Initiative Tax Standard on the issue, PIRC said.

• Public country-by-country reporting will “allow responsible businesses to demonstrate that they are contributing positively towards society, the recovery from the pandemic and paying taxes in ...