News Releases

Delaware Endorses Bill to Tackle Anonymous Companies

Move Comes as Lawmakers Consider Dropping Important Anti-Money Laundering Section from Legislation

WASHINGTON, D.C. — Delaware’s top government official overseeing company formation in the state endorsed a bipartisan federal proposal to require companies to disclose their true owners at the time of formation in new a new letter to Congress.

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Facebook Shareholders to Vote on Responsible Tax Principles

Tax Experts Travel to California to Present Proposal following November’s Paradise Papers Exposé

SAN FRANCISCO, California / WASHINGTON, D.C. — Facebook investors will vote Thursday on a proposal to require the company’s board to adopt responsible tax principles following the release of November’s Paradise Papers exposé, which exposed the structures behind massive tax dodging schemes of well-known multinational companies, including Apple, Facebook, and Nike.

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More than 50 Organizations Urge Congress to End the Tax Preference for Shifting Jobs and Profits Offshore

WASHINGTON, D.C. – Today, more than 50 national organizations sent a letter urging members of Congress to co-sponsor the No Tax Breaks for Outsourcing Act, which would overhaul the new international tax system put in place by the Tax Cuts and Jobs Act to ensure that multinational corporations are no longer allowed to pay a lower tax rate on their offshore profits than they pay on their domestic profits.

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New Treasury Sanctions Are Unenforceable

WASHINGTON, D.C. — As the U.S. Treasury Department unveiled sanctions against five Iranian individuals Tuesday for providing “ballistic missile-related technical expertise to Yemen’s Huthis,” the Financial Accountability and Corporate Transparency (FACT) Coalition warned that the United States has failed to equip itself with the tools to enforce those sanctions.

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Crack Down on U.K.’s Offshore Territories Increases Pressure on U.S. to End Anonymous Companies

WASHINGTON, D.C. — Lawmakers in the United Kingdom voted Tuesday to require their offshore territories to establish systems by 2020 mandating companies to disclose their true owners at the time of formation.  The new rules, which will bring transparency to companies formed in notorious secrecy jurisdictions such as the Cayman Islands, Bermuda, and the British Virgin Islands, were welcomed by the Financial Accountability and Corporate Transparency (FACT) Coalition.

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New Bill Removes Tax Incentives to Move Jobs, Profits Offshore

“No Tax Breaks for Outsourcing Act” Would Close Loopholes in Tax Code that Encourage Offshore Tax Avoidance

WASHINGTON, D.C. – New legislation introduced Tuesday would equalize the tax rates for domestic businesses and multinational corporations — reducing the tax incentives to shift jobs and profits overseas that were enacted under the recent tax overhaul, according to the Financial Accountability and Corporate Transparency (FACT) Coalition.

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New Report: U.S. the 2nd Biggest Tax Haven in the World

America Surpasses Cayman Islands, Second Only to Switzerland in Tax Justice Network’s Rankings of the World’s Largest Secrecy Jurisdictions

WASHINGTON, D.C. – The United States has become the second largest tax haven in the world, according to a new report published Tuesday by the Tax Justice Network.

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Tax Bill Threatens U.S. Jobs

Fuels Tax Haven Industry and Increases Incentives to Move Operations Offshore

WASHINGTON, D.C – Today, Congress passed the Tax Cuts and Jobs Act (H.R.1), and the President has indicated he will soon sign it into law. Among its many provisions, the bill changes the way in which corporations are taxed.

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