FACT recently sent comments to the Financial Action Task Force (FATF) urging the international body to adopt more robust beneficial ownership recommendations as part of its public consultation on Recommendation 24.
Following last month’s historic agreement on a 15 percent global minimum tax rate at the G7 Finance Ministers meeting, a groundbreaking 130 countries came together to support the Organization for Economic Cooperation and Development (OECD)’s Inclusive Framework, in another sign of accelerating progress on global taxation reform.
An Overview of US International Corporate Tax Laws and a Comparison of Current Proposed Plans to Change Them
FACT Sends Letter to Congressional Leadership Urging Action to Implement Biden’s Reforms on International Tax Law
Once again, the momentum is building on tax transparency this month as both the United States and the E.U. make waves on corporate disclosures. Lawmakers on this side of the Atlantic took an important step toward true transparency. A month after Rep. Cindy Axne’s Disclosure of Tax Havens and Offshoring Act (H.R. 3007) rocketed from introduction to markup in just 24 hours, the bill passed the House of Representatives as part of a broader corporate disclosure package on environmental, social, and governance (ESG) reforms.
After months of anticipation, Rep. Cynthia Axne (D-IA) and Sen. Chris Van Hollen (D-MD) unveiled the Disclosure of Tax Havens and Offshoring Act last week to a chorus of civil society, small business, and investor support.
