S. 5019 — Disclosure of Tax Havens and Offshoring Act

This section requires covered multinational issuers with annual revenue meeting a threshold set by the Securities and Exchange Commission to file annual reports disclosing, by tax jurisdiction, revenues from related and unrelated parties, profit or loss before tax, taxes paid and accrued, stated capital, accumulated earnings, full-time employees, and tangible assets. The Commission must issue a proposed rule within 270 days of enactment and a final rule within one year, with the requirement effective one year after the final rule and reports filed in machine-readable format.