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Clark Gascoigne

Clark Gascoigne is the Senior Policy Advisor of the FACT Coalition.

Study Highlights How Rigged Tax Code Hurts Small Business, Middle Class Americans

Multinational Companies Dodging $147 Billion Annually in State and Federal Taxes through Offshore Tax Schemes
WASHINGTON, D.C. – A new report from U.S. PIRG Education Fund finds that multinational companies dodge an estimated $147 billion in federal and state taxes annually through offshore tax haven loopholes.  The report explains the staggering cost to small businesses and individual taxpayers, who are forced to shoulder the increased tax burden.

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Treasury Department

Coalition Welcomes Rule to Stem Multinational Corporate Tax Avoidance

Treasury Finalizes Anti-Inversion Rules Tackling “Earnings Stripping”
WASHINGTON, D.C. – The U.S. Department of the Treasury finalized a long-awaited rule Thursday aimed at countering multinational tax avoidance, in a move welcomed by the Financial Accountability and Corporate Transparency Coalition (FACT Coalition).

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FACT Sheet: Questions & Answers about Territorial Corporate Tax Systems

A central theme of corporate tax reform is how to create a system that works in a global economy. Several proposals have called for a territorial corporate tax system — a system in which a company only pays taxes on what it claims as profits in a given country rather than looking at the companies’ global footprint.

Below are questions and answers about territorial tax systems as outlined in recent reform proposals.

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New Report: Multinationals Dodging $718bn in U.S. Taxes on Profits Booked Offshore

New Analysis Underscores Need to End Deferral, Boost Transparency of Companies’ Offshore Tax Practices
WASHINGTON, D.C. – The largest American companies have stashed nearly $2.5 trillion in profits offshore allowing them to dodge $718 billion in U.S. taxes, according to a new report released Tuesday by Citizens for Tax Justice (CTJ), the Institute on Taxation and Economic Policy (ITEP), and the U.S. Public Interest Research Group (PIRG) Education Fund—all members of the Financial Accountability and Corporate Transparency Coalition (FACT Coalition).

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Groups Push Accounting Body on Multinational Tax Transparency

Broad Alliance Calls for Accounting Standards to Require Country-by-Country Tax Reporting in Comment Letter
WASHINGTON, D.C. – A broad alliance of organizations and coalitions submitted comments to the Financial Accounting Standards Board (FASB) today—urging the body to require multinational companies to be more transparent about their tax practices.  FASB, the private body which sets financial accounting and reporting standards in the United States, has suggested a number of changes to increase the disclosure of foreign tax and income information by companies in their public filings.

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Coalition Welcomes New Tax Transparency Bill

Corporate Transparency and Accountability Act Would Better Inform Investors on Tax Risks Associated with Multinational Companies
WASHINGTON, D.C. – Rep. Mark Pocan (D-WI) today introduced a new bill, which would shine a light on the offshore tax practices of multinational companies.  The Corporate Transparency and Accountability Act of 2016 would require publicly-traded multinational companies to report in their disclosure statements to investors information about revenues, profits, taxes, and certain operations on a country-by-country basis.

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