US multinational corporations currently pay little to no US tax on their foreign profits, which incentivizes these companies to shift profits and real operations to tax havens.
Real estate associations sent a letter to the Senate and House Armed Services Committees, urging members to take up legislation ending anonymous companies in the must-pass National Defense Authorization Act.
The Anti-Money Laundering Act would end the abuse of anonymous companies and has the support of the business community, national security experts, and law enforcement.
The House has shown it’s serious about ending the abuse of anonymous companies. Now the Senate must get this reform across the finish line.
Small business associations endorse Senate legislation for country-by-country reporting to even the playing field with multinational enterprises.
Investors with $811 billion in assets managed sent a letter to the Senate backing public country-by-country reporting to reduce investor risk in multinational enterprises.