Resources | Page 44 | The FACT Coalition

Polaris Fact Sheet: Business Transparency to Combat Human Trafficking

August 9, 2018

In cities throughout the United States, human trafficking rings operate illicit massage businesses, where women are forced to engage in commercial sex. Criminals engaged in human trafficking and money laundering are able to take advantage of the lack of transparency surrounding beneficial ownership of business entities to evade criminal prosecution. Congress must take action to ensure that law enforcement officials can identify the individual traffickers that control or benefit from illicit massage businesses and hold them accountable.

Letter from Attorneys General to the House Financial Services Committee to Improve Corporate Transparency

August 2, 2018

Dear Chairman Hensarling and Ranking Member Waters:
Thank you for your diligent work crafting legislation to improve corporate transparency by requiring companies to disclose the identities of individuals who control and profit from the company at the time of its incorporation. We write to express our support for this change, which would prevent these individuals from using anonymous shell companies to evade accountability,
and to convey the importance of making this information available to state and local enforcement.

U.S. Should Not Favor Foreign over U.S. Profits: Tax Multinationals the Same as Wholly Domestic Companies

July 31, 2018

The new tax law, the Tax Cuts and Jobs Act (TCJA), changed the tax system from one in which U.S. corporations paid taxes equally on all their profits to one in which they pay lower taxes on profits booked outside the United States. By lowering the tax rate on foreign profits, the tax code now encourages U.S. corporations to move U.S. jobs and profits offshore.

Letter from the National Fraternal Order of the Police to the Senate Committee on Banking, Housing, and Urban Affairs Supporting Corporate Transparency

July 20, 2018

Letter from the National Fraternal Order of the Police to the Senate Committee on Banking, Housing, and Urban Affairs Supporting Corporate Transparency

Sven Giegold: Global Tax Cooperation Remains Crucial

July 19, 2018

Giegold is a member of a parliamentary delegation which has just concluded a fact finding trip to Washington on what the US is doing to combat financial crime.

The delegation from the economic and monetary affairs committee was in Washington and New York to meet representatives from the US Treasury, the Institute of International Bankers (IIB) and the Federal Reserve Board (FRB).

ITEP Report: Understanding and Fixing the New International Corporate Tax System

July 17, 2018

The Tax Cuts and Jobs Act (TCJA) radically changed the international tax system. It slashed taxes on corporate income, both domestic and foreign. It encouraged U.S. multinational corporations to shift jobs, profits, and tangible property abroad, and keep intangibles home. This report describes the new international tax system—and its many gaps—and also provides a road map for how to fix these gaps and surveys recent legislative approaches.