Congress Introduces Corporate Tax Transparency Legislation to Support Informed Investor Decisions
The FACT Coalition today welcomed the introduction of the Disclosure of Tax Havens and Offshoring Act in the House and Senate.
FACT Coalition Offers Blueprint to Biden Administration to Implement Landmark Anti-Money Laundering Reform
The FACT Coalition offered a blueprint to the Biden Administration on how the Treasury Department should draft the rule for a landmark anti-corruption and anti-money laundering law, the Corporate Transparency Act, enacted by Congress in January.
Fair Tax Systems Are Vital for Strong Climate Action
Fast on the heels of the Leaders’ Summit on Climate hosted by the United States last week, the Biden administration will start working in earnest to advance its American Jobs Plan in Congress. Infrastructure investments aimed at combating climate change are at the center of the plan designed to spur emissions-reducing actions, generate economic growth and create jobs.
A Biden Boom in the Fight to Close Tax Loopholes: Just the Facts: April 21
Over the past month, there has been an unprecedented global focus on corporate tax loopholes and profit shifting amidst reporting that at least 55 of America’s largest corporations paid no federal corporate income taxes at all in 2020. Since the dawn of civil society campaigning for international tax justice, this may be the closest activists have come to ending the era of tax havens and massive tax avoidance and it is increasingly clear to many lawmakers that corporations need to pay their fair share to help pay for COVID recovery programs, infrastructure, and other needs.
Biden Budget Request Boosts Funding for Treasury Agency Tasked with Combatting Financial Crime
The FACT Coalition welcomed the inclusion of increased funding for the Financial Crimes Enforcement Network (FinCEN) in President Biden’s topline FY22 budget request released today.
The Global Trend Towards Corporate Tax Transparency Accelerates: Just the Facts: March 22
These past few weeks have seen “explosive” momentum in the movement for tax transparency. The United Nations High-Level Panel on International Financial Accountability, Transparency and Integrity for Achieving the 2030 Agenda (FACTI Panel) published their report in late February, recommending a broad slate of much-needed global reforms including public country-by-country reporting (PCbCR) of taxes and other financial information by multinational companies. This year, the Global Reporting Initiative put into effect the first global voluntary standard on public country-by-country tax reporting. The standard, known as GRI 207, has already attracted early support from Philips, Orsted, Alliance, and Newmont.