MFA, along with eight other trade associations, sent a letter to Treasury Secretary Scott Bessent expressing concern for Australia’s recently enacted Public Country-by-Country Reporting (PCBCR) regime.
The PCBCR framework creates a new regime mandating public disclosure of detailed tax and revenue information of multinational companies with even minimal operations in Australia. This regime even applies to US parented companies that are otherwise not required to publish such information under US law. In our view, this is a clear case of a foreign government asserting extraterritorial authority over US companies with far-reaching, unacceptable implications for the competitiveness of US companies in the global market.
