There is widespread agreement, across the political spectrum, that the gaming of the tax code by multinational corporations is a problem. When profits and jobs are shipped offshore, we not only harm the U.S. economy, we fuel a tax haven industry that drains wealth around the world.
The tax system under the Tax Cuts and Jobs Act includes loopholes and incentives to shift money and jobs overseas.
Quotes from prominent anti-human trafficking experts explaining the problems with anonymous shell companies.
12 financial services trade groups sent a letter to the House lawmakers endorsing beneficial ownership disclosure.
The FACT Coalition filed a comment on January 2, 2018 with the U.S. Securities and Exchange Commission (SEC) supporting the agency’s proposal to mandate the disclosure of Legal Entity Identifier (LEI) numbers by public companies and their subsidiaries. The Coalition also urged requiring all public companies to obtain LEIs, ensuring that the LEIs are disclosed in a machine-readable format, and mandating that companies disclose all of their subsidiaries in their disclosures, rather than simply their “significant” subsidiaries.
The Financial Accountability and Corporate Transparency Coalition (FACT Coalition) sent a letter to House and Senate leadership opposing the final conference version of the Tax Cuts and Jobs Act (H.R.1).
The Financial Accountability and Corporate Transparency Coalition (FACT Coalition) sent a letter to House Financial Services Committee Chairman Jeb Hensarling and Ranking Member Maxine Waters in support of the bipartisan End Banking for Human Traffickers Act of 2017 (H.R.2219), which would increase the role of financial policymakers and the financial industry in combating human trafficking.
