U.S. Representative Mark Pocan recently introduced a bill to require all public companies to provide country-by-country financial information in their SEC filings. This information would mirror the information collected by the IRS under a recent Treasury regulation affecting large multinational companies. The stated purpose of the bill is to increase transparency and expose tax avoidance and profit shifting activities. If adopted, however, the disclosure would require a set of financial reports that do not track either a company’s tax accounting or its GAAP/IFRS accounting, which could result in confusing disclosure for investors. Read H.R. 6126 and the related press release.