Press Coverage

Thomson Reuters interviewed FACT Policy Director Zorka Milin and FACT Policy & Communications officer Thomas Georges on a proposed budget rider to defund the FASB’s oversight body if a rule designed to provide investors with more transparency isn’t withdrawn.

Thomas Georges stated that industry concerns regarding data collection burdens or potential misinterpretation “don’t come close to outweighing the benefits for investors that was the prime consideration that FASB had when they were drafting these disclosures and narrowly tailoring these disclosures.”

Bloomberg covered FACT’s latest report analyzing the financial disclosures of 11 U.S. multinational oil and gas companies.

“Of the global oil and gas production by 11 US oil majors studied by FACT, 51% is domestic, but only 18% of their total global tax bill goes to the US. These generous foreign tax credits help explain why.”

Agence France-Presse covered FACT’s latest report analyzing the financial disclosures of 11 U.S. multinational oil and gas companies.

“The headline finding of our report is that these companies are indeed very lightly taxed. They are under-taxed relative to any kind of number of metrics.”

Mongabay covered a new FACT report that examines the destructive effects of illegal gold mining, with a focus on steps the U.S. can take to cut off the financial drivers of this crime.

“A militaristic, hardline U.S. response to illegal gold mining in the region would be both unwise and ineffective… What we are urging the U.S. to do is to employ new tools from the anti-money laundering and counter-terrorism financing toolbox.”

International Tax Review covered FACT’s letter to the US Treasury defending Australia’s public country-by-country reporting regime.

“The Australian rules are much stronger than the EU. The EU rules are better than nothing, but the Australian regime requires more robust information, such as tangible asset disclosures. It also covers a much better list of jurisdictions, including those commonly thought to be tax havens.”

FACT deputy director Erica Hanichak was quoted by Thomson Reuters in their coverage of FinCEN’s announcement that it plans to delete beneficial ownership information collected under the Corporate Transparency Act.

“Pilot agencies collectively provided 100 staff members access to FinCEN’s IT system for BOI, conducting nearly 1,700 searches as of October 29, 2024.” Erica Hanichak noted this shows a clear demand amongst law enforcement for the information.