Multinational companies do not publicly report on where they are making their money or what taxes they are paying to whom. Investors, policymakers, and citizens have no idea exactly how they are gaming the system—what they tell us versus what they tell other countries. They should have to write it down in one place and report it on a country-by-country basis, so that the public, policymakers, and shareholders can see what they are really paying.
After months of anticipation, Rep. Cynthia Axne (D-IA) and Sen. Chris Van Hollen (D-MD) unveiled the Disclosure of Tax Havens and Offshoring Act last week to a chorus of civil society, small business, and investor support.
Today is May 17, which due to an IRS extension is this year’s tax day. The annual deadline comes as a reminder that–while most of us scramble to pay what we owe–some of the wealthiest among us pay little to nothing in taxes.
The FACT Coalition today welcomed the introduction of the Disclosure of Tax Havens and Offshoring Act in the House and Senate.
97 Nonprofit Organizations Support the Disclosure of Tax Havens and Offshoring Act (H.R. 3007 / S. 1545)
Small Businesses Seek Increased Competition with Disclosures of Tax Havens and Offshoring Act
66 Investors with $2.9 Trillion in Assets Under Management Support the Disclosure of Tax Havens and Offshoring Act
