Prescription for Poverty: Drug companies as tax dodgers, price gougers, and influence peddlers
Pharmaceutical companies claim to bear their fair share of taxes, but their financial statements tell a different story.
The Downside of Boston’s Luxury Building Boom
Boston is being transformed by a luxury housing boom but a new report shows there are reasons to be alarmed.
New Study Confirms Offshore Earnings are Flowing into Stock Buybacks, Not Jobs and Investments
A new study found that the new repatriation tax break has resulted in a surge in stock buybacks and little discernable impact in investment.
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      WASHINGTON, D.C. — More than 60 institutional investors and academics called on regulators Tuesday to require more transparency in corporate filings — including information on offshore tax practices.  The petition to the Securities and Exchange Commission (SEC) is part of a broader effort to align disclosure frameworks with an investment environment focused on long-termism.

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      WASHINGTON, D.C. — A bipartisan group of more than twenty state attorneys general urged Congress on Thursday to help them counter money laundering, corruption, and terror financing by passing legislation to end the incorporation of anonymous shell companies in the United States.

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      Move Comes as Lawmakers Consider Dropping Important Anti-Money Laundering Section from Legislation

      WASHINGTON, D.C. — Delaware’s top government official overseeing company formation in the state endorsed a bipartisan federal proposal to require companies to disclose their true owners at the time of formation in new a new letter to Congress.

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      New Bill Would Plug an Offshore Loophole in Tax Overhaul

      WASHINGTON, D.C. — House lawmakers introduced legislation Wednesday that would make it harder for multinational corporations to game the offshore provisions in the newly adopted tax overhaul.

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      Tax Experts Travel to California to Present Proposal following November’s Paradise Papers Exposé

      SAN FRANCISCO, California / WASHINGTON, D.C. — Facebook investors will vote Thursday on a proposal to require the company’s board to adopt responsible tax principles following the release of November’s Paradise Papers exposé, which exposed the structures behind massive tax dodging schemes of well-known multinational companies, including Apple, Facebook, and Nike.

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      WASHINGTON, D.C. – Today, more than 50 national organizations sent a letter urging members of Congress to co-sponsor the No Tax Breaks for Outsourcing Act, which would overhaul the new international tax system put in place by the Tax Cuts and Jobs Act to ensure that multinational corporations are no longer allowed to pay a lower tax rate on their offshore profits than they pay on their domestic profits.

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      WASHINGTON, D.C. — As the U.S. Treasury Department unveiled sanctions against five Iranian individuals Tuesday for providing “ballistic missile-related technical expertise to Yemen’s Huthis,” the Financial Accountability and Corporate Transparency (FACT) Coalition warned that the United States has failed to equip itself with the tools to enforce those sanctions.

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      WASHINGTON, D.C. — Lawmakers in the United Kingdom voted Tuesday to require their offshore territories to establish systems by 2020 mandating companies to disclose their true owners at the time of formation.  The new rules, which will bring transparency to companies formed in notorious secrecy jurisdictions such as the Cayman Islands, Bermuda, and the British Virgin Islands, were welcomed by the Financial Accountability and Corporate Transparency (FACT) Coalition.

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      The Kleptocracy Asset Recovery Rewards Act Would Establish a Rewards Program for Whistleblowers

      WASHINGTON, D.C. – A bipartisan group of lawmakers introduced legislation Tuesday afternoon to combat terror finance and foreign government corruption in a move that was welcomed by the Financial Accountability and Corporate Transparency (FACT) Coalition.

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      “No Tax Breaks for Outsourcing Act” Would Close Loopholes in Tax Code that Encourage Offshore Tax Avoidance

      WASHINGTON, D.C. – New legislation introduced Tuesday would equalize the tax rates for domestic businesses and multinational corporations — reducing the tax incentives to shift jobs and profits overseas that were enacted under the recent tax overhaul, according to the Financial Accountability and Corporate Transparency (FACT) Coalition.