With a robust first rulemaking on the landmark Corporate Transparency Act (CTA), the Biden Administration has taken an important step toward delivering on its commitment to making the fight against corruption a foremost national security priority.
The Sentry’s report points to major ways the international community must act to deny kleptocrats the “brain trust” on which they rely to perpetrate their crimes. It’s up to the U.S. to be a leader, not a laggard, in implementing a robust anti-money laundering regime.
New Sentry Report Details how Bankers, Lawyers, and Accountants Enable Global Corruption Networks: “The Enablers Fueling Global Corruption and Building Violent Kleptocracies.”
Germany has expressed its intention to move forward with a crucial piece of the OECD’s global tax agreement, introducing legislation to create a minimum corporate tax with or without the rest of the European Union.
On August 16, President Biden signed the Inflation Reduction Act (IRA) into law. The IRA, among other things, creates a corporate alternative minimum tax (CAMT) that applies a 15 percent minimum tax on the largest corporations worldwide, aggregate “book” income, adjusted for certain identified tax preferences.
On August 8, the FACT Coalition applauded the inclusion of crucial investments in the Internal Revenue Service (IRS), and specific measures to combat tax dodging by multinational corporations in the Inflation Reduction Act of 2022, which the Senate enacted over the weekend.
