SEC Backs Amazon Holders On Global Tax Transparency Vote
A Roman Catholic priest told Law360 on Wednesday that he won the U.S. Securities and Exchange Commission’s approval for a vote among fellow Amazon.com shareholders on his global tax transparency proposal, bypassing the company’s request to block his measure.
The Rev. Séamus Finn told Law360 that his proposal for a shareholder vote will be included in materials at the corporation’s annual meeting in May, when a landmark vote will take place on whether to force Amazon to publicly disclose tax payments in each country of operation. Finn works on policy and investments for the Missionary Oblates of Mary Immaculate — a 200-year-old congregation based in Aix-en-Provence, France — whose attorney Con Hitchcock said the SEC’s denial of Amazon’s no-action request is a watershed moment in tax transparency.