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Press Releases & Statements

More than 50 Organizations Urge Congress to End the Tax Preference for Shifting Jobs and Profits Offshore

WASHINGTON, D.C. – Today, more than 50 national organizations sent a letter urging members of Congress to co-sponsor the No Tax Breaks for Outsourcing Act, which would overhaul the new international tax system put in place by the Tax Cuts and Jobs Act to ensure that multinational corporations are no longer allowed to pay a lower tax rate on their offshore profits than they pay on their domestic profits.

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New Treasury Sanctions Are Unenforceable

WASHINGTON, D.C. — As the U.S. Treasury Department unveiled sanctions against five Iranian individuals Tuesday for providing “ballistic missile-related technical expertise to Yemen’s Huthis,” the Financial Accountability and Corporate Transparency (FACT) Coalition warned that the United States has failed to equip itself with the tools to enforce those sanctions.

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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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