The FACT Coalition sent comments to FinCEN on proposed renewal of due diligence requirements.
FACT sent policy recommendations for the FACTI Panel final report.
FACT sent comments to ANPRM on AML Program Effectiveness.
FACT makes recommendations to President-Elect Biden’s transition team to advance corporate and financial transparency and tax reforms.
A diverse coalition including business, law enforcement, faith, and national security groups sent a letter of support for including the Corporate Transparency Act in the National Defense Authorization Act for Fiscal Year 2021.
Investors are at an increasing risk due to the lack of information disclosed by companies about their tax practices, according to this November 2018 report published by the Financial Accountability and Corporate Transparency Coalition (FACT Coalition). Titled “Muddled Markets: Investors Increasingly at Risk from Lack of Disclosures about Corporate Tax Practices,” the report finds that multinational companies have become increasingly reliant on offshore tax avoidance practices to boost short-term earnings in recent years, yet disclosure requirements haven’t kept pace with this changing world.
As governments around the globe struggle with growing budget deficits, tax authorities are increasingly cracking down on aggressive tax avoidance practices, which can have a significant impact on shareholder value. At the same time, shifting national policies around international taxation — including, but not limited to, the recent tax overhaul in the United States — create complexity and uncertainties with respect to returns for investors.