FACT Sheet: Law Enforcement Opposes Anonymous Shell Companies
Quotes from prominent law enforcement officials explaining the problems with anonymous shell companies.
Anonymity Overdose
Opioid deaths now exceed those from motor vehicle accidents. It’s clear we need to do more. Fair Share Education Fund’s latest report, “Anonymity Overdose,” connects opioid trafficking and the subsequent crisis with the activities of anonymous shell companies – companies formed with no way of knowing who is actually in charge. Because they shield the owners from accountability, anonymous shell companies are a common tool for disguising criminal activity and laundering money, and are also at heart of the Panama Papers.
FACT Sheet: Anonymous Shell Companies
Enabling Criminal Activity in the U.S. and Around the World
America is one of the easiest places in the world in which to form an anonymous shell company—this facilitates crimes that victimize ordinary Americans.
Hidden Menace: How secret company owners are putting troops at risk and harming American taxpayers
Since the financial crisis and release of the Panama Papers, we have heard a lot about the revenue governments lose to tax avoidance and evasion, but what about the losses resulting from corruption and fraud when governments spend money on goods, services and infrastructure?
Around the world governments spend $9.5 trillion each year on public procurement. It should be no surprise that fraudsters, and corrupt officials, take advantage of this. According to research by the UN, corruption may amount to as much as 25% of the value of government procurement contracts worldwide.
FACT Comments to Treasury/IRS in Support of Proposed Earnings Stripping Rule
Rule Would Help Address Problem of Corporate Tax Inversions
The FACT Coalition submitted comments in support of a proposal from the U.S. Department of the Treasury to combat an egregious corporate tax avoidance technique known as earnings stripping. The rule is one of two Treasury proposals aimed at combatting so-called corporate tax inversions. FACT also submitted comments supporting the other proposal, which targets “serial inverters.”
FACT Comments to Treasury/IRS in Support of Proposed ‘Serial Inverter’ Rule
Rule Would Help Address Problem of Corporate Tax Inversions
The FACT Coalition submitted comments in support of a proposal from the U.S. Department of the Treasury to combat an egregious corporate tax avoidance technique known as serial inverters. The rule is one of two Treasury proposals aimed at combatting so-called corporate tax inversions. FACT also submitted comments supporting the other proposal, which targets “earnings stripping.”