October 12, 2018
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October 12, 2018
October 9, 2018
Support for Beneficial Ownership Transparency is widespread, crossing industries and the ideological spectrum. Here is a list of supporters.Read More...
September 19, 2018
Pharmaceutical companies claim to bear their fair share of taxes, but their financial statements tell a different story.Read More...
August 28, 2018
Drug traffickers, corrupt officials, rogue nations seeking to evade sanctions, terrorists, and other criminals use anonymous companies to hide the money they steal and maintain the power they hold.
Many of the most dangerous criminal elements now operate sophisticated financial networks. They have updated the way they do “business,” which Includes the use of companies with hidden owners. As the rest of the world cracks down on corporate secrecy, the criminals and other wrongdoers are looking increasingly to the U.S.
The U.S. Treasury Department’s Customer Due Diligence (CDD) Rule for Financial Institutions1 is a critical piece in a larger strategy to protect the integrity of our financial system from abuse and the nation from a broad array of harms.Read More...
August 9, 2018
In cities throughout the United States, human trafficking rings operate illicit massage businesses, where women are forced to engage in commercial sex. Criminals engaged in human trafficking and money laundering are able to take advantage of the lack of transparency surrounding beneficial ownership of business entities to evade criminal prosecution. Congress must take action to ensure that law enforcement officials can identify the individual traffickers that control or benefit from illicit massage businesses and hold them accountable.Read More...
August 2, 2018
Dear Chairman Hensarling and Ranking Member Waters:
Thank you for your diligent work crafting legislation to improve corporate transparency by requiring companies to disclose the identities of individuals who control and profit from the company at the time of its incorporation. We write to express our support for this change, which would prevent these individuals from using anonymous shell companies to evade accountability,
and to convey the importance of making this information available to state and local enforcement.
July 31, 2018
The new tax law, the Tax Cuts and Jobs Act (TCJA), changed the tax system from one in which U.S. corporations paid taxes equally on all their profits to one in which they pay lower taxes on profits booked outside the United States. By lowering the tax rate on foreign profits, the tax code now encourages U.S. corporations to move U.S. jobs and profits offshore.Read More...
July 20, 2018
Letter from the National Fraternal Order of the Police to the Senate Committee on Banking, Housing, and Urban Affairs Supporting Corporate TransparencyRead More...
July 17, 2018
The Tax Cuts and Jobs Act (TCJA) radically changed the international tax system. It slashed taxes on corporate income, both domestic and foreign. It encouraged U.S. multinational corporations to shift jobs, profits, and tangible property abroad, and keep intangibles home. This report describes the new international tax system—and its many gaps—and also provides a road map for how to fix these gaps and surveys recent legislative approaches.Read More...
June 1, 2018
36 former military and civilian national security leaders sent a letter to the House of Representatives’ Committee on Financial Services, urging members to end anonymous shell companies.Read More...