International Tax Abuse Costs Taxpayers Billions as Countries Confront COVID-19 Pandemic
New report finds taxpayers lose $427 billion worldwide to individual tax evasion and multinational corporate profit-shifting, undercutting a COVID-19 response.
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.
New report finds taxpayers lose $427 billion worldwide to individual tax evasion and multinational corporate profit-shifting, undercutting a COVID-19 response.
FACT makes recommendations to President-Elect Biden’s transition team to advance corporate and financial transparency and tax reforms.
The FACT Coalition and Oxfam America host a panel of experts for a discussion on the growing U.S. and international demand for corporate tax transparency.
Requiring multinational corporations to publicly report basic financial information on a country-by-country basis will reduce the abuse of tax havens and help investors assess tax-related risk.
A new UN report exposes major shortcomings and systemic problems in the global framework to combat tax abuse, corruption, and money laundering.
Small business associations endorse Senate legislation for country-by-country reporting to even the playing field with multinational enterprises.