The "Disclosure of Tax Havens and Offshoring Act" proposes to amend the Securities Exchange Act of 1934, introducing a new requirement for country-by-country reporting . This legislation targets "covered issuers," defined as multinational enterprise groups exceeding a certain annual revenue threshold, to enhance transparency regarding their global financial operations. The bill aims to shed light on how these large corporations distribute their economic activities and profits across various tax jurisdictions worldwide. Under the proposed amendment, covered issuers must submit detailed reports to the Securities and Exchange Commission (SEC) for each tax jurisdiction where their constituent entities are resident. This required information includes specific financial metrics such as revenues from both internal and external transactions, profit or loss before income tax, and both cash-paid and accrued income tax expenses. Additionally, companies must report on stated capital, accumulated earnings, the total number of employees, and the net book value of tangible assets within each jurisdiction. The bill mandates that the SEC promulgate a proposed rule within 270 days and a final rule within one year of enactment, ensuring these regulations align with United States or international country-by-country reporting standards. Crucially, the reported information will be made publicly available online in a machine-readable format, fostering greater public scrutiny and understanding of corporate tax strategies and global economic footprints.