Yesterday, Monique Perry Danziger, Communications Director at Global Financial Integrity, had an op-ed featured in The Hill.
Writing on the first anniversary of the Dodd-Frank financial reform bill, she covers both the importance of the SEC producing guidelines for the country-by-country reporting elements of the legislation (Section 1504), and the need to expand financial transparency through approval of the Stop Tax Haven Abuse Act.
Dodd-Frank and STHAA are not just important for the developing world, Danziger argues, but also for the domestic economy and world as a whole:
It is increasingly obvious that letting multinational companies operate on an honor system is bad business. Instituting Section 1504 and passing the Stop Tax Haven Abuse Act would strengthen U.S. and foreign government tax collection, inform global investment strategies, and foster good governance in the developing world — a key component in a stable global economic recovery.
Disclaimer: Unless specifically stated to be the views of the Task Force, the opinions expressed on this blog are solely the opinions of the individual blogger and are not necessarily those of the Task Force on Financial Integrity & Economic Development.