The main purpose of this legislation, known as the Disclosure of Tax Havens and Offshoring Act, is to enhance transparency in the financial reporting of multinational companies. It aims to require these companies to disclose their financial performance on a country-by-country basis. This is intended to provide clearer insights into where companies operate, how much they earn, and the taxes they pay in different jurisdictions, thereby addressing issues related to tax avoidance and offshoring.