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.
The FACT (Financial Accountability and Corporate Transparency) Coalition today welcomed the introduction by Senator Sheldon Whitehouse (D-RI) and Rep. Lloyd Doggett (D-TX) of the Stop Tax Haven Abuse Act, which would close a number of loopholes used by corporations and wealthy individuals to avoid taxes.
In recognition of its efforts on corporate issues, the Financial Accountability and Corporate Transparency (FACT) Coalition was awarded the Arca Foundation’s Smith Bagley Memorial Grant.
Faith leaders, small business owners, activists, and others will be fanning out across Capitol Hill to tell lawmakers in both chambers and in both parties of the impact that offshore tax haven abuse and the use of anonymous shell companies are having on communities as the FACT (Financial Accountability and Corporate Transparency) Coalition kicks off its Advocacy Days.
Senator Carl Levin speaks during the FACT Coalition’s 2014 Advocacy Days in Washington, DC.
Rep. Lloyd Doggett speaks during the FACT Coalition’s 2014 Advocacy Days in Washington, DC.
David Boris, Owner of Hel’s Kitchen Catering in Northbrook, IL., speaks during the FACT Coalition’s 2014 Advocacy Days in Washington, DC.
