GOP Leadership’s Proposal for a “Territorial Tax System” Would Encourage Corporations to Send Jobs Offshore and Avoid Paying Taxes
WASHINGTON, D.C. — Today, over 100 organizations sent a letter urging members of Congress to reject a proposal that would allow U.S. multinational corporations to pay little to nothing on their offshore profits.
Administration and Congressional Leaders Unveil Plan to Allow Multinationals to Pay Little-to-No Taxes on Profits Booked Offshore at Expense of U.S. Businesses and U.S. Taxpayers
WASHINGTON, D.C. — The White House and congressional leaders unveiled a joint tax plan today that would allow multinational corporations to pay little-to-no taxes on the profits they book offshore.
On Aug. 5, the United Nations Security Council voted to pass powerful new sanctions on North Korea. If successfully enforced, the new sanctions could deal a significant blow to the regime, cutting off as much as its foreign currency supply. But if sanctions are going to have any effect on the North Korean regime, we cannot continue to leave open critical loopholes that allow them to launder money and get around the sanctions.
Former Treasury Agent Urges Authorities to Target the Drivers of Human Trafficking, Drug Smuggling, and Corruption
Ending Anonymous Companies; Trade Transparency Units; Holding Gatekeepers Accountable Among Policy Recommendations
WASHINGTON, D.C. – Worldwide anti-money laundering efforts are currently just a decimal point away from total failure, according to a new report published Tuesday by the FACT Coalition.
Statement by the FACT Coalition on Treasury Department Decision to Renew and Expand Geographic Targeting Orders to Identify Buyers in Luxury Real Estate
WASHINGTON, D.C. – The Financial Crimes Enforcement Network (FinCEN), a branch of the U.S. Treasury Department, announced Tuesday that it was renewing and expanding its temporary orders seeking to uncover illicit activity in the luxury real estate sector.
More corrupt officials face consequences as reverberations from the Panama Papers continue. Pakistan’s Supreme Court has indefinitely disqualified the prime minister, Nawaz Sharif, from public service after the prime minister and his children were implicated in dubious real estate transactions in London. A subsequent investigation showed his family owned luxury real estate properties through anonymous companies. Based on their income, it was unlikely they could afford the properties, suggesting they were potentially hiding stolen assets and engaging in illicit financial practices. In a blog responding to the action taken by the supreme court, Global Witness’ Naomi Hirst noted this as an example of how anonymous companies are used to embolden corrupt officials and called on leaders to fulfill their promises to eliminate them.
