Press Releases & Statements | Page 35

Coalition Welcomes New Tax Transparency Bill

September 22, 2016

Corporate Transparency and Accountability Act Would Better Inform Investors on Tax Risks Associated with Multinational Companies
WASHINGTON, D.C. – Rep. Mark Pocan (D-WI) today introduced a new bill, which would shine a light on the offshore tax practices of multinational companies. The Corporate Transparency and Accountability Act of 2016 would require publicly-traded multinational companies to report in their disclosure statements to investors information about revenues, profits, taxes, and certain operations on a country-by-country basis.

New “Bahamas Leaks” Further Evidence For Ending Anonymous Companies Following “Panama Papers”

September 21, 2016

U.S. Among the Easiest Places in the World to Open Anonymous Shell Companies to Launder Money
WASHINGTON, D.C. — A new trove of leaked documents published today by the International Consortium of Investigative Journalists (ICIJ)—the group that brought the world the “Panama Papers” in April—continues to demonstrate the harms facilitated by anonymous shell companies.

Broad Coalition Calls for Greater Disclosure Requirements from the SEC

September 20, 2016

WASHINGTON, D.C. – Nine groups—the AFL-CIO; Americans for Financial Reform; the Center for American Progress; Ceres; the Financial Accountability & Corporate Transparency, or FACT, Coalition; the International Corporate Accountability Roundtable; Patriotic Millionaires; Public Citizen; and US SIF: The Forum for Sustainable and Responsible Investment—are joining together to urge the U.S. Securities and Exchange Commission, or SEC, to strengthen corporate disclosure requirements.

New Report: Investors at Risk by Lack of Corporate Tax Disclosures

September 12, 2016

Shareholders Increasingly Stymied by Opaque Corporate Tax Practices as Authorities Crack Down, Finds New FACT Analysis
Apple Tax Ruling “Just the Tip of the Iceberg”
WASHINGTON, D.C. – Investors are at an increasing risk due to the lack of information disclosed by companies about their tax practices, according to a new report published today by the FACT Coalition.

Report Highlights Investor Risks from Anonymous Shell Companies

September 7, 2016

FACT Coalition Statement on New Global Witness and Global Financial Integrity Briefing
WASHINGTON, D.C. – A new report released today by Global Financial Integrity (GFI) and Global Witness emphasizes the importance to investors of knowing who owns and controls the companies with which they invest and with whom those companies do business. Titled “Chancing It: How Secret Company Ownership Is a Risk to Investors,” the briefing highlights a number of financial and non-financial risks posed to companies and investors from anonymously-owned companies, and is published as global investors managing over $740 billion in assets released a letter calling on the U.S. government to adopt meaningful incorporation transparency legislation.

On Apple, U.S. Should Follow Europe’s Lead – Level Playing Field for Small Business to Compete

August 30, 2016

Statement of the FACT Coalition on the E.U.’s Apple Ruling
WASHINGTON, D.C. – The European Commission today announced that Apple would have to re-pay Ireland roughly $14.5 billion in illegal tax breaks, after a three-year investigation discovered that the tech giant escaped with paying about 0.05% in taxes—compared to the official Irish rate of 12%.

Clark Gascoigne, the deputy director of the FACT Coalition, issued the following statement.