Policy Analysis

FACT Sheet: Offshore Tax Haven Abuse by the Numbers

Up to $180 billion: The amount that the U.S. loses in tax revenue to offshore tax haven abuse each year.

  • $111 billion: Lost U.S. revenue from profit shifting by multinational corporations annually.
  • $40-70 billion: Lost U.S. revenue to tax evasion by wealthy individuals annually.
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FACT Sheet: Offshore Tax Haven Abuse

Average Taxpayers and Small Business Owners Foot the Bill for Offshore Tax Loopholes

Many Large U.S.-Based Multinationals Avoid Paying U.S. Taxes by Using Accounting Tricks to Make Profits Made in America Appear to Be Generated in Offshore Tax Havens—Countries with Minimal or No Taxes.

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Towards a Sustainable Economy

A Review of Comments to the SEC’s Disclosure Effectiveness Concept Release

The FACT Coalition joined eight other groups—the AFL-CIO; Americans for Financial Reform; the Center for American Progress; Ceres; the International Corporate Accountability Roundtable; Patriotic Millionaires; Public Citizen; and US SIF: The Forum for Sustainable and Responsible Investment—in releasing a report analyzing the more than 26,000 comments received in response to the U.S. Securities and Exchange Commission’s April 2016 concept release on “Business and Financial Disclosure Required by Regulation S-K”.

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A Taxing Problem for Investors

Shareholders Increasingly at Risk from Lack of Disclosure of Corporate Tax Practices

Investors are at an increasing risk due to the lack of information disclosed by companies about their tax practices, according to this September 2016 report published by the Financial Accountability and Corporate Transparency Coalition (FACT Coalition).  Titled “A Taxing Problem for Investors: Shareholders Increasingly at Risk from Lack of Disclosure of Corporate Tax Practices,” the report finds that multinational companies have become increasingly reliant on offshore tax avoidance practices to boost short-term earnings in recent years, yet disclosure requirements haven’t kept pace with this changing world.  As governments around the globe struggle with growing budget deficits, tax authorities are increasingly cracking down on aggressive tax avoidance practices, which can have a significant impact on shareholder value.

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FACT Sheet: Anonymous Shell Companies

Enabling Criminal Activity in the U.S. and Around the World

America is one of the easiest places in the world in which to form an anonymous shell company—this facilitates crimes that victimize ordinary Americans.

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Anonymity Overdose – How our opioid crisis and shell companies are linked

Opioid deaths now exceed those from motor vehicle accidents. It’s clear we need to do more. Fair Share Education Fund’s latest report, “Anonymity Overdose,” connects opioid trafficking and the subsequent crisis with the activities of anonymous shell companies – companies formed with no way of knowing who is actually in charge. Because they shield the owners from accountability, anonymous shell companies are a common tool for disguising criminal activity and laundering money, and are also at heart of the Panama Papers.

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