
International Community Strikes Historic Tax Deal: Just the FACTs: November 1
The tax justice movement is gaining steam as the international community strikes a historical tax deal, a key first step towards equitable global taxation reform.
The tax justice movement is gaining steam as the international community strikes a historical tax deal, a key first step towards equitable global taxation reform.
and Oxfam America to discuss the impact that a global agreement on the taxation of multinational companies would have on the U.S. economy.
A two-pillar framework agreed to by the OECD for taxing large multinational corporations represents a paradigm shift in the way that these companies are taxed—allocating the right to tax certain excess profits of very large companies to “market” jurisdictions and creating a global minimum corporate tax— but concerns about the long-term political viability of the proposal merit consideration.
The International Consortium of Investigative Journalists, along with major news outlets such as the Washington Post, yesterday revealed the largest leak of private financial records to date, eclipsing the Panama Papers in scope and scale. The “Pandora Papers” confirm the use of a secretive “offshore” financial system that allows criminals, world leaders, and others to hide billions of dollars from authorities, fueling tax dodging and corruption.
U.S. international tax reform may soon be a reality as lawmakers in Congress advance new draft legislation.
FACT’s Executive Director Ian Gary to join Ali-Reza Vahabzadeh of the American Sustainable Business Council and lawmakers from Congress in discussing the Disclosure of Tax Havens and Offshoring Act.