Briefing Memo: The Foreign Derived Intangible Income (FDII) Deduction: Why It Belongs on the Chopping Block
Eliminating the Foreign-Derived Intangible Income (FDII) tax break would both raise significant revenue and make for good policy.
Briefing Memo: International Tax Policy and US Competitiveness
A major concern against Biden’s Made in America Tax Plan is that it could harm US competitiveness, however opponents overlook the existence of two different kinds of competitiveness–that of US multinational corporations and that of the US and its workers.
FACT Memo to Biden-Harris Presidential Transition Team
FACT makes recommendations to President-Elect Biden’s transition team to advance corporate and financial transparency and tax reforms.
Endorsements for Beneficial Ownership Transparency
Support for Beneficial Ownership Transparency is widespread, crossing industries and the ideological spectrum. Here is a list of supporters.
Briefing Memo: Publicly Traded Companies Should Publicly Report Where They Are Booking Profits and Paying Taxes
As governments around the world begin to crack down on aggressive offshore tax avoidance, numerous companies find themselves in the crosshairs of tax authorities. Alphabet (Google),3 Amazon,4 Apple,5 Caterpillar,6 Gap,7 Facebook,8 Hewlett-Packard,9 McDonalds,10 Microsoft,11 Shell,12 and Starbucks13 have all faced penalties or are in disputes with tax authorities over their aggressive tax avoidance practices.
The new tax law will do little to change the risk factors. While Congress eliminated deferral of taxes for profits booked offshore, the new 50% (or greater) discount on the overseas rate creates a powerful new incentive to move money overseas.14
For policymakers, investors, and other stakeholders to better understand how the tax laws operate in practice, there is a need for public country-by-country reporting (CbCR) of certain revenue, profit, tax, and other information for multinational corporations (MNCs).
Briefing Memo: IRS Does Not Collect Beneficial Ownership Information and Additional Concerns with an IRS Approach
The FACT Coalition sent this memo to explain concerns with an IRS approach to collecting beneficial ownership information.