Three New Tax Disclosure Regimes Still Leave Gaps in Information

New corporate tax disclosures will provide investors with some answers to the persistent puzzle of where companies book their profits and pay their taxes—but some pieces of the puzzle are still going to be missing.

The US, the EU, and Australia all have or are putting into place new requirements for companies to disclose more details about their tax payments, to help investors spot potential shifting of profits to lower-tax jurisdictions.

But each of the three regimes has different standards for what companies have to disclose, tax-transparency groups note—different information, different countries for which disclosure has to be made, and ...