New Blog: Unaccountable: The Role of Accountancy Firms in International Financial Scandals
The revelatory Luanda Leaks by the International Consortium of Investigative Journalists (ICIJ) and 35 partner organizations exposed the critical role financial service providers – frequently Western – play in facilitating massive international financial scandals.
Companies Don’t Want to Talk Taxes. Investors Can Change That.
"For investors, tax is a material issue. It poses underlying investment risks as well as risks to wider portfolio returns," says Fiona Reynolds, the CEO of Principles for Responsible Investment, in a new op-ed calling for companies to disclose their tax practices to investors.
Diverse Stakeholders Flood OECD in Push for Public Corporate Tax Disclosures
Investors, Small Businesses, Lawmakers, and NGOs Push OECD to Require Public Country-by-Country Reporting of Key Tax Information for Multinational Corporations.
    • OECD

      Investors, Small Businesses, Lawmakers, and NGOs Push OECD to Require Public Country-by-Country Reporting of Key Tax Information for Multinational Corporations

      WASHINGTON, D.C. — A diverse set of stakeholders has called on the Organizations for Economic Cooperation and Development to mandate public disclosures of key tax information for multinational corporations.  Originally agreed to in 2015, the OECD is reviewing its standard on country-by-country reporting of tax information. The deadline for filing public comments was Friday, March 6th.

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      Disclosure of Tax Havens and Offshoring Act Would Codify Emerging Trend Toward Tax Transparency

      Washington, D.C. — House lawmakers unveiled legislation on Thursday that would require multinational corporations to publicly disclose key tax and financial information on a country-by-country basis.

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      Experts See Reason for Optimism as U.S. Policymakers Push Legislation to End Anonymous U.S. Companies

      WASHINGTON, D.C. — The United States is the second largest provider of financial secrecy in the world, trailing only the Cayman Islands, according to a new index published today by the London-based Tax Justice Network (TJN).

    • Image: pickingpok / Shutterstock

      New Rule from Global Reporting Initiative Could Bring Public Country-by-Country Reporting of Taxes, Profits, Revenues, and Employees to Thousands of Companies

      WASHINGTON, D.C. – A global sustainability standard-setting body finalized a proposal on Thursday to have multinational companies publicly disclose basic financial information on a country-by-country basis — a move that was praised by transparency advocates.

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      First Time Legislation to End Anonymous Companies Passes Either Chamber of Congress

      Measure Received Support from White House Prior to Vote

      Statement by Gary Kalman, Executive Director of the FACT Coalition

      WASHINGTON, D.C. — With a bipartisan vote of 249 to 173, the House of Representatives passed a bipartisan bill Tuesday night to update federal anti-money laundering laws and end the incorporation of anonymous companies in the U.S.  After more than a decade of debate in Washington, Tuesday’s vote in favor of the Corporate Transparency Act of 2019 (H.R.2513) represents the first time that legislation to end anonymous companies has made it through either Chamber of Congress.

    • Editorial Credit: Katherine Welles / Shutterstock.com

      ILLICIT CASH Act Opens Viable Pathway to Senate Passage

      Statement by Gary Kalman, Executive Director of the FACT Coalition

      WASHINGTON, D.C. — A bipartisan group of eight U.S. senators on a key Senate committee introduced legislation Thursday to update federal anti-money laundering laws and end the incorporation of anonymous companies in the U.S.

    • Image: Lipik Stock Media / Shutterstock

      Wyden, Rubio, and Whitehouse’s “Corporate Transparency Act” — Companion to Maloney and King’s H.R.2513 — Would End Incorporation of Anonymous Companies in the U.S.

      WASHINGTON, D.C. — Bipartisan momentum to end the incorporation of anonymous companies in the United States escalated on Wednesday following the publication of an international exposé on the scandal-plagued Odebrecht’s “Bribery Division,” as Senators Ron Wyden (D-OR), Marco Rubio (R-FL), and Sheldon Whitehouse (D-RI) introduced legislation that would require companies to disclose their true owner(s) when they incorporate and keep their ownership information up to-do-date.

    • House Financial Services Committee

      Corporate Transparency Act of 2019 Moves Forward with Strong Bipartisan Support

      WASHINGTON, D.C. — The House Committee on Financial Services voted 43-16 on Wednesday to advance a bipartisan measure to end the incorporation of anonymous companies that can be used for money laundering, terror financing, corruption and tax evasion.

    • Image: Lovely Bird / Shutterstock

      House Committee to Vote on Corporate Transparency Act Tuesday

      WASHINGTON, D.C. — A bipartisan group of four U.S. senators unveiled draft legislation to update federal anti-money laundering laws and end the incorporation of anonymous companies in the U.S. on Monday, as House lawmakers prepare to vote on their own bipartisan proposal to address the abuse of anonymous companies on Tuesday.

    • Image: flysnowfly / Shutterstock

      WASHINGTON, D.C. — Senate lawmakers introduced two pieces of legislation on Wednesday that would boost transparency of multinational corporations’ tax and employment practices while making it harder for companies to game the international tax system.