News & Events | Page 68 | The FACT Coalition

A Strike Against Tax Dodging

June 29, 2016

New Rules Target the Gaming of the Tax Code
WASHINGTON, DC —The U.S. Department of Treasury released new rules today to require multinational companies to report profits and taxes paid on a country by country basis. This is the first time that this information is being gathered in the United States and shared with other nations. The information will be filed with the IRS and shared with states’ and other countries’ tax authorities with which the U.S. has agreements to exchange tax information.

Tax Experts Push IRS to Expose Multinational Tax Dodging

May 12, 2016

FACT Members, Partners to Speak at Friday IRS Hearing on Proposed Country-by-Country Reporting Rule
Multinational Profit Shifting Costs Taxpayers $111 Billion per Year
WASHINGTON, DC — The Internal Revenue Service is holding a public hearing Friday morning on proposed rules to crack down on corporate tax dodging by requiring multinational companies to report to the IRS their profits earned, taxes paid, and employee numbers on a country-by-country basis. Members and allies of the FACT Coalition are set to testify on the proposal, known as “country-by-country reporting”.

New Panama Papers Release Shows Vast Network of Secret Companies

May 9, 2016

U.S. Called Out as Among Easiest Countries to Open Anonymous Shell Companies Renewing Calls for Congressional Action
WASHINGTON, DC — The International Consortium of Investigative Journalists (ICIJ) published more than 200,000 documents from a trove of leaked files known as the Panama Papers this afternoon, renewing calls from anti-money laundering and tax policy experts in favor of bipartisan transparency measures to curb terror finance, corruption, and tax evasion. The bill is called the Incorporation Transparency and Law Enforcement Assistance Act (H.R.4450 |S. 2489).

Anti-Money Laundering Experts Deeply Concerned by Administration’s Flawed ‘Panama Papers’ Response

May 6, 2016

Loopholes in New Treasury Rule Perpetuate Problem of Anonymous U.S. Shell Companies—Enabling Terror Finance, Crime, and Corruption
WASHINGTON, DC – Leading anti-corruption, anti-money laundering, and tax policy experts expressed deep concerns about a set of rules and proposals announced by the Obama Administration last night in the wake of the so-called “Panama Papers” revelations.

After Panama Papers, Scores Descend on Capitol Urging Tax and Transparency Solutions

April 12, 2016

Former Reps. Claudine Schneider (R-RI) and Mary Jo Kilroy (D-OH) among over 70 Faith, Small Business, Law Enforcement, Local Leaders Pushing for Bi-Partisan Tax and Transparency Policies
WASHINGTON, D.C. – Following the recent exposé dubbed the “Panama Papers,” a bi-partisan grouping of more than 70 faith leaders, small business owners, local leaders, and public interest advocates from 25 states will be on Capitol Hill this week to urge lawmakers to support tax and transparency legislation that benefits small businesses, taxpayers, and vulnerable communities.

FACT Coalition Welcomes Gary Kalman as New Executive Director

April 11, 2016

Seasoned Policy Strategist Looks to Elevate Coalition in Wake of Panama Papers
WASHINGTON, D.C. – The FACT (Financial Accountability and Corporate Transparency) Coalition today welcomed aboard Gary Kalman as FACT’s new executive director, effective Monday, April 11, 2016.