Average Taxpayers and Small Business Owners Foot the Bill for Offshore Tax Loopholes
Many Large U.S.-Based Multinationals Avoid Paying U.S. Taxes by Using Accounting Tricks to Make Profits Made in America Appear to Be Generated in Offshore Tax Havens—Countries with Minimal or No Taxes.
The FACT Coalition and a broad alliance of other organizations and coalitions submitted comments to the Financial Accounting Standards Board (FASB)—urging the body to require multinational companies to be more transparent about their tax practices.
The FACT Coalition sent a letter to Rep. Mark Pocan (D-WI) and the leaders of the U.S. House of Representatives Financial Services Committee in support of the Corporate Transparency and Accountability Act of 2016 (H.R.6126).
September 20, 2016 | 9:30am ET – 11:00am ET
Please join the Center for American Progress Action Fund, the AFL-CIO, Americans for Financial Reform, Ceres, the Financial Accountability & Corporate Transparency Coalition, the International Corporate Accountability Roundtable, the Patriotic Millionaires, Public Citizen, and US SIF: The Forum for Sustainable and Responsible Investment for a discussion on transparency, long-termism, and the state of SEC corporate disclosures.
Enabling Criminal Activity in the U.S. and Around the World
America is one of the easiest places in the world in which to form an anonymous shell company—this facilitates crimes that victimize ordinary Americans.
Public Disclosure of Country-by-Country Tax Information Would Better Inform Investors
The Financial Accountability and Corporate Transparency (FACT) Coalition submitted comments to the U.S. Securities and Exchange Commission on Wednesday, July 6, 2016 urging that—to better inform investors—the SEC should revise its international tax disclosure framework to specifically require multinational corporations to disclose information on taxes and profits on an annual, country-by-country basis.
