This opening paragraph from a new article (paywall) by Reuven Avi-Yonah and Ariel Siman will surprise many people:
When the U.S. originally enacted its corporate tax in 1909, corporate tax returns were public. The rationale was that taxing corporations was a means of controlling their excessive power, and sunshine is the best disinfectant.
By the 1930s corporate lobbying had put an end to that. We've never had such a system, but the question is, why not?
Michael Meacher made a proposal for public corporation tax returns in a Private Member's Bill I wrote for him last year. It would be a powerful disinfectant, especially if that return was combined with country-by-country reporting.