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.
The FACT Coalition, Oxfam America, and Public Citizen host a panel discussion on the role of international tax policy on jobs offshoring. While the COVID-19 pandemic wreaks havoc on our economy and public finances, ending offshore corporate tax dodging to protect American jobs and raise revenue from profitable companies is more important than ever.
US multinational corporations currently pay little to no US tax on their foreign profits, which incentivizes these companies to shift profits and real operations to tax havens.
2020 is turning out to be an eventful year in the fight against corrupt financial practices.
The FACT Coalition and Oxfam penned a joint comment on USTR’s Investigations of Digital Services Taxes, encouraging the agency to not take action against jurisdictions that adopt digital services taxes.
The FACT Coalition issued a statement on the European Union court ruling overturning a 2016 decision that found that Apple had received illegal tax breaks from Ireland.
Sen. Durbin and Rep. Doggett’s bill provides a critical safeguard against corporate abuse at this time of national crisis.
