Coalition Submits Comments in Support of Two Treasury/IRS Rules to Combat Abusive Tax Dodging by Multinationals
WASHINGTON, DC – The Financial Accountability and Corporate Transparency (FACT) Coalition submitted comments to the U.S. Department of the Treasury today in support of two proposed measures to combat abusive tax dodging through corporate tax inversions. In April, the Treasury Department announced two new measures to make it harder for multinational corporations to invert to dodge taxes. One measure targets a tax dodging technique known as “earnings stripping,” while the other rule targets repeat offenders known as “serial inverters.”
The FACT Coalition supports both measures.
“The gaming of our international tax system exacerbates economic inequality; drains revenue out of both developed and developing countries; hurts legitimate businesses, families, and communities; and undermines our country’s ability to govern,” writes FACT Executive Director Gary Kalman in the submissions. “It is time we eliminate this egregious offshore loophole to make sure that the corporations that benefit from all of the resources, protections, and markets in the United States pay their fair share of taxes.”
The coalition’s full comments can be found on the FACT website:
- Comments on Earnings Stripping Rule: http://thefactcoalition.org/fact-comments-treasuryirs-proposed-earnings-stripping-regulation/
- Comments on Serial Inverter Rule: http://thefactcoalition.org/fact-comments-treasuryirs-support-proposed-serial-inverter-rule/
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