63 Investors with $2.9 trillion in Assets Under Management Send Letter to FASB in Support of Tax Transparency
63 Investors with $2.9 trillion in Assets Under Management Send Letter to FASB in Support of Tax Transparency
FACT Provides Comments to Financial Accounting Standards Board Urging Country-by-Country Tax Reporting
FACT recently sent comments to the Financial Accounting Standards Board (FASB) urging them to adopt country-by-country tax reporting as part of its public consultation on the Board’s priorities. FASB sets and oversees the Generally Accepted Accounting Principles, the standard followed by most U.S. corporations in their financial reporting, and so could bring about widespread adoption of public country-by-country reporting as a way to ensure investors are fully able to assess reputational and regulatory risks in their portfolios.
FACT Weighs in on Senate’s Provisional International Tax Plan Ahead of Budget Reconciliation
The FACT Coalition and Americans for Tax Fairness submitted comments to the Senate Finance Committee in response to its International Taxation Overhaul Discussion Draft.
FACT Sent Comments to FATF Urging Strong Beneficial Ownership Regulation
FACT recently sent comments to the Financial Action Task Force (FATF) urging the international body to adopt more robust beneficial ownership recommendations as part of its public consultation on Recommendation 24.
FACT Sheet: The Urgent Case for U.S. International Tax Reform
Concerns about competitiveness and how the OECD negotiations may interact with U.S. international tax reform consistent with the President’s Made in America Tax Plan, the Senate Finance Committee Framework for International Tax Reform, and the No Tax Breaks for Outsourcing Act, or NTBOA (H.R. 1785), are overstated—or, worse—purposefully misleading. To improve competitiveness for American working families and domestic businesses, and to ensure an OECD agreement is reached, Congress should act now on U.S. international tax reform.
Acres of Money Laundering: Why U.S. Real Estate is a Kleptocrat’s Dream
What do the Iranian government, a fugitive international jeweler, and a disgraced Harvard University fencing coach have in common? They have all used U.S. real estate to launder their ill-gotten gains. In Acres of Money Laundering: Why U.S. Real Estate is a Kleptocrat’s Dream, Global Financial Integrity (GFI) dives into the murky world of global money laundering and demonstrates the ease with which kleptocrats, criminals, sanctions evaders, and corrupt government officials choose the U.S. real estate market as their preferred destination to hide and launder proceeds from illicit activities.