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Study: Offshore Tax Dodging by U.S. Multinationals Costs Taxpayers $90 Billion per Year

October 6, 2015

Research Increases Pressure on Congress to Address the Hemorrhaging of the American Tax Base
OECD’s Base Erosion and Profit Shifting (BEPS) Package “Important First Step” Towards Curtailing Abusive Tax Avoidance, but More Must Be Done
WASHINGTON, DC – The Financial Accountability and Corporate Transparency (FACT) Coalition applauded a new report from two of its members detailing the serious consequences of offshore tax haven abuse on U.S. taxpayers. Published today by Citizens for Tax Justice and the U.S. Public Interest Research Group Education Fund (U.S. PIRG), the study reveals that the nation’s largest multinational corporations dodge nearly $90 billion in U.S. taxes annually through the abuse of offshore tax haven loopholes, shifting the country’s tax burden onto small businesses and individual Americans.

FACT Coalition Urges Congress to Reject Permanent Extension of “Egregious” Tax Loopholes

September 16, 2015

House Ways and Means Committee Set to Consider Enshrining “CFC Look-Through Rule” and “Active Financing Exemption” Thursday
Unpaid-for Corporate Giveaways to Cost American Taxpayers $100 Billion
WASHINGTON, DC – The Financial Accountability and Corporate Transparency (FACT) Coalition called on Members of Congress today to strongly reject pending legislation that would cost American taxpayers $100 billion over the next decade by enshrining egregious tax loopholes which reward multinational companies for artificially shifting profits overseas.

Tax Extenders Would Renew Two Wasteful Tax Haven Loopholes U.S. Cannot Afford These Special Interest Spending Earmarks

July 21, 2015

The FACT (Financial Accountability and Corporate Transparency) Coalition is today calling on Congress to reject two tax extenders that are nothing more than offshore loopholes which allow U.S. companies to dodge billions worth of taxes.

FACT Letter to Treasury Secretary Jack Lew Calling for UN Intergovernmental Tax Body

July 14, 2015

The FACT Coalition sent the attached letter to U.S. Treasury Secretary Jack Lew on July 14, 2014 ahead of the Third Financing for Development Conference in Addis Ababa, Ethiopia.

A Tax Avoidance Christmas Wish List for Multinationals

July 10, 2015

The FACT (Financial Accountability and Corporate Transparency) Coalition today released the following statement on the release by the Senate Finance Committee International Tax Bipartisan Tax Working Group Report. The statement is from Executive Director Rebecca Wilkins:

Monsanto Showing Itself Out of the Show Me State? 114 Years in Missouri Ignored as Multinational Gets Ready to Invert

June 10, 2015

The FACT (Financial Accountability and Corporate Transparency) Coalition is expressing its sadness and outrage over Monsanto’s plan to acquire Switzerland-based Syngenta, as the agricultural multinational corporation would be surrendering its 114-year history in the state of Missouri and, at least on paper, move overseas.