There is widespread agreement, across the political spectrum, that the gaming of the tax code by multinational corporations is a problem. When profits and jobs are shipped offshore, we not only harm the U.S. economy, we fuel a tax haven industry that drains wealth around the world. We seek to fix the problem of large, well-connected interests gaming the tax system.
Read FACT executive director Ian Gary’s new op-ed for the Inter Press Service on the need for global tax cooperation to effectively fund a robust response to the climate crisis.
FACT holds a launch event for a new report on the tax disclosures of U.S. multinational oil and gas companies, and new research reveals the cost of international corporate tax handouts in the latest edition of Just the FACTs.
Bloomberg covered FACT’s latest report analyzing the financial disclosures of 11 U.S. multinational oil and gas companies.
“Of the global oil and gas production by 11 US oil majors studied by FACT, 51% is domestic, but only 18% of their total global tax bill goes to the US. These generous foreign tax credits help explain why.”
FACT’s latest report analyzes the tax disclosures of 11 U.S. oil and gas multinational companies, and calls for the elimination of harmful subsidies for extraction abroad.
Read FACT’s latest report analyzing the public filings of 11 U.S. multinational oil and gas companies, and breaking down the substantial tax subsidies that inform the industry’s low average tax rates on their domestic income.
Watch a recording of the launch of FACT’s new report analyzing the tax disclosures of 11 U.S. oil and gas multinational companies, and calling for the elimination of harmful subsidies for extraction abroad.
