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Press Releases & Statements

Crack Down on U.K.’s Offshore Territories Increases Pressure on U.S. to End Anonymous Companies

WASHINGTON, D.C. — Lawmakers in the United Kingdom voted Tuesday to require their offshore territories to establish systems by 2020 mandating companies to disclose their true owners at the time of formation.  The new rules, which will bring transparency to companies formed in notorious secrecy jurisdictions such as the Cayman Islands, Bermuda, and the British Virgin Islands, were welcomed by the Financial Accountability and Corporate Transparency (FACT) Coalition.

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Bipartisan Bill Targets Foreign Government Corruption

The Kleptocracy Asset Recovery Rewards Act Would Establish a Rewards Program for Whistleblowers
WASHINGTON, D.C. – A bipartisan group of lawmakers introduced legislation Tuesday afternoon to combat terror finance and foreign government corruption in a move that was welcomed by the Financial Accountability and Corporate Transparency (FACT) Coalition.

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New Bill Removes Tax Incentives to Move Jobs, Profits Offshore

“No Tax Breaks for Outsourcing Act” Would Close Loopholes in Tax Code that Encourage Offshore Tax Avoidance
WASHINGTON, D.C. – New legislation introduced Tuesday would equalize the tax rates for domestic businesses and multinational corporations — reducing the tax incentives to shift jobs and profits overseas that were enacted under the recent tax overhaul, according to the Financial Accountability and Corporate Transparency (FACT) Coalition.

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New Report: U.S. the 2nd Biggest Tax Haven in the World

America Surpasses Cayman Islands, Second Only to Switzerland in Tax Justice Network’s Rankings of the World’s Largest Secrecy Jurisdictions
WASHINGTON, D.C. – The United States has become the second largest tax haven in the world, according to a new report published Tuesday by the Tax Justice Network.

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Tax Bill Threatens U.S. Jobs

Fuels Tax Haven Industry and Increases Incentives to Move Operations Offshore
WASHINGTON, D.C – Today, Congress passed the Tax Cuts and Jobs Act (H.R.1), and the President has indicated he will soon sign it into law. Among its many provisions, the bill changes the way in which corporations are taxed.

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Committee Advances Bill to Target Financing of Human Trafficking

House Financial Services Committee Votes Unanimously in Favor of the End Banking for Human Traffickers Act of 2017 (H.R.2219)
WASHINGTON, D.C. – The U.S. House Financial Services Committee on Wednesday voted unanimously to advance legislation targeting the financing of human trafficking, in a move welcomed by the Financial Accountability and Corporate Transparency (FACT) Coalition.

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