Press Releases & Statements | Page 37

FACT Welcomes Anti-Tax Dodging Proposal; Urges Treasury to Strengthen, Clarify Rule

March 22, 2016

FACT Coalition Submits Comments to the U.S. Department of the Treasury and the Internal Revenue Service on Proposed Country-by-Country Reporting Rule
WASHINGTON, DC – The Financial Accountability and Corporate Transparency Coalition (or FACT Coalition) submitted comments to the U.S. Department of the Treasury and the Internal Revenue Service today offering strong support for—and recommending measures to further strengthen and clarify—a proposed rule to crack down on abusive tax avoidance by multinational corporations.

Tax Reform Should Close Offshore Loopholes, End Tax Haven Abuse

February 24, 2016

FACT Coalition Submits Comments to House Ways and Means Committee Ahead of International Tax Reform Hearing
WASHINGTON, D.C. – Ahead of a planned hearing on international tax reform, the FACT (Financial Accountability and Corporate Transparency) Coalition today submitted comments to the U.S. House Committee on Ways and Means urging lawmakers to focus reform efforts on closing offshore loopholes and ending tax haven abuse.

FACT Coalition Mourns the Loss of Rebecca Wilkins

February 18, 2016

Colleagues Remember Tax “Expert’s Expert” as Tenacious, Witty, Eloquent, and Kind
WASHINGTON, D.C. – The Financial Accountability and Corporate Transparency (FACT) Coalition today mourns the loss of its executive director, Rebecca Wilkins, who passed away Sunday, February 14th, following a protracted battle with cancer.

FACT Welcomes Bipartisan Bill to Curb Terror Financing, Money Laundering Through Anonymous Shell Companies

February 3, 2016

“Incorporation Transparency and Law Enforcement Assistance Act” Will Increase Corporate Transparency; Give Law Enforcement Important Tool for Investigating Terrorism, Other Crimes
Rampant Abuse of Anonymous Companies Featured Prominently on Sunday’s 60 Minutes
WASHINGTON, DC – The Financial Accountability and Corporate Transparency (FACT) Coalition welcomed the introduction today of bipartisan legislation to give law enforcement an important tool for investigating terrorism and other crime enabled through anonymous American shell companies.

Civil Society Assails Multinational Tax Giveaway

December 16, 2015

“Tax Extenders” Deal Could Permanently Enshrine Outrageous Tax Dodging Loophole in Tax Code, Extend Another One for Five Years
Congressional Negotiators Ignore a Hundred Thousand Letters from Constituents Calling for an End to Egregious Offshore Tax Loopholes
WASHINGTON, DC – Civil society groups assailed a backroom congressional tax deal released early this morning as an egregious giveaway to multinational tax dodgers at the expense of U.S. taxpayers. The so called “tax extenders” deal could permanently enshrine in the tax code an offshore loophole known as the “Active Financing Exception”, which is abused by multinational companies to artificially shift profits overseas and dodge taxes at the expense of the American public. The deal also extends for five years another offshore loophole, known as the “CFC Look-Through Rule”, which also allows corporations to use accounting tricks to avoid paying taxes.

FACT Welcomes Bill to Curb Money Laundering and Terror Financing

December 15, 2015

“Holding Individuals Accountable and Deterring Money Laundering Act” Will Help Return Rule of Law to U.S. Financial System; Bring America in Line with International Standards
WASHINGTON, DC – The FACT (Financial Accountability and Corporate Transparency) Coalition welcomed the introduction of legislation to improve anti-money laundering and counter-terror finance safeguards while heightening the accountability of financial institutions. Sponsored by Representative Maxine Waters (D-CA), the Holding Individuals Accountable and Deterring Money Laundering Act [H.R. 4242] targets the individuals (or enablers) at financial institutions responsible for accepting suspect funds, while aligning the United States with a number of international anti-money laundering (AML) standards.