News & Events | Page 58 | The FACT Coalition

President’s Expected Statement on Tax Giveaway to Multinationals Is Inaccurate

October 11, 2017

History Shows Tax Giveaways on Offshore Profits Neither Create Jobs nor Spur Investment
WASHINGTON, D.C. — The president is expected to claim in a speech Wednesday afternoon that a zero percent tax rate for multinational corporations that book profits offshore and a tax holiday for those multinationals that have already booked stockpiles of money offshore will increase the pay of the average American household by $4,000 — an erroneous notion according to the FACT Coalition.

Welcome Earnings-Stripping Decision in Stark Contrast to Administration’s Tax Overhaul Proposals

October 4, 2017

Alternative Group of Lawmakers Unveils Proposals that Would End the Offshore Gaming
WASHINGTON, D.C. — The Treasury Department announced that it would maintain an important rule to curb offshore tax avoidance Wednesday, a move that stands in contrast to the administration’s proposals to make it easier to avoid taxes by booking profits offshore, according to the FACT Coalition.

Testimony to Helsinki Commission on Combating Kleptocracy with Incorporation Transparency

October 3, 2017

The Financial Accountability and Corporate Transparency Coalition (FACT Coalition) testified in front of the U.S. Commission on Security and Cooperation in Europe or the Helsinki Commission at a hearing on combating kleptocracy with incorporation transparency.

Over 100 Organizations Urge Congress to Reject Giant Tax Loophole for Offshoring and Tax Avoidance

October 2, 2017

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.

A Tax Plan for the Cayman Islands and Switzerland

September 27, 2017

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.

Shell Companies Undermine Sanctions against North Korea

August 28, 2017

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.