News Releases

New Bills Take Aim at Offshore Tax Haven Abuse

Stop Tax Haven Abuse Act and Corporate EXIT Fairness Act Would Close Many of the Most Egregious Offshore Loopholes

WASHINGTON, D.C. – Congressional lawmakers introduced two measures Wednesday to close a number of offshore tax haven loopholes in a move welcomed by the Financial Accountability and Corporate Transparency Coalition (FACT Coalition).

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Large Companies Dodging $767 Billion in U.S. Taxes through Offshore Loopholes

ITEP Report Reveals Fortune 500 Companies Booking Record $2.6 Trillion in Untaxed Profits Abroad

WASHINGTON, D.C. – As Washington turns its attention to tax reform, a new report from the Institute on Taxation and Economic Policy underscores the immense scale of offshore tax avoidance: Fortune 500 companies have booked a record $2.6 trillion in profits offshore, allowing them to avoid up to $767 billion in U.S. taxes.

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Legislation Proposes Strengthening Foreign Bribery Safeguard

Foreign Business Bribery Prohibition Act” Would Empower Private Sector to Assist in Combating Corruption

WASHINGTON, D.C. – Rep. Ed Perlmutter (D-CO) introduced legislation Thursday to strengthen safeguards against foreign bribery in a move welcomed by anti-corruption advocates.

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New Bill Takes Aim at Offshore Tax Avoidance

FACT Coalition Statement on  Corporate Tax Dodging Prevention Act

WASHINGTON, D.C. – Legislation introduced by Sen. Bernie Sanders (I-VT), Sen. Brian Schatz (D-HI), and Rep. Jan Schakowsky (D-IL) Thursday takes aim at offshore tax avoidance by closing a number of loopholes in the tax code.

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Report Shows House Tax Plan Fails to Curb Tax Avoidance

Statement by the FACT Coalition on ITEP Study

WASHINGTON, D.C. – A new report published Wednesday by the Institute on Taxation and Economic Policy (ITEP) explains—among other things—how the House tax plan fails to curtail tax avoidance, contrary to the conventional wisdom in Washington.

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Trump Voids Anti-Corruption Safeguard

President’s Action Likely to Raise Costs on American Businesses, Undermine National Security

WASHINGTON, D.C. — Clark Gascoigne, the deputy director of the FACT Coalition, issued the following statement in response to President Donald Trump’s signing of a Congressional Review Act resolution of disapproval (H.J.Res.41).

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Mnuchin’s Offshore Companies Underscore Need to Tackle Tax Havens in Tax Reform

Statement by FACT Deputy Executive Director Clark Gascoigne

WASHINGTON, D.C. – The offshore companies controlled by Treasury Secretary-designate Steven Mnuchin featured prominently in his Senate confirmation hearings held last week in Washington.  It was revealed that the former investment banker managed companies with assets in Anguilla and the Cayman Islands, both widely recognized as tax havens.

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