Tax

Tax Bill Threatens U.S. Jobs

Fuels Tax Haven Industry and Increases Incentives to Move Operations Offshore

WASHINGTON, D.C – Today, Congress passed the Tax Cuts and Jobs Act (H.R.1), and the President has indicated he will soon sign it into law. Among its many provisions, the bill changes the way in which corporations are taxed.

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U.S. Tax Plan’s Spiraling Consequences for Human Rights and Poverty – At Home and Abroad

By Niko Lusiani

As the United States Congress considers drastically altering its tax code, my organization — the Center for Economic and Social Rights (CESR) — has brought the spiraling human rights costs of the proposed U.S. tax cuts to the attention of a leading UN human rights official visiting the U.S. to look into poverty in the country.

On Dec. 1 – the morning before the U.S. Senate rushed through a lopsided and dysfunctional tax plan to unfairly benefit the top tiers of the economy while costing ordinary people within and outside the U.S. dearly — the UN Special Rapporteur on Extreme Poverty and Human Rights Philip Alston launched his official visit to the US to investigate the links between the growing phenomenon of poverty and human rights deprivations there.

In advance of his visit, we made a formal submission entitled Fiscal Impoverishment in the United States, warning that the Republican-backed tax plans would only deepen poverty and inequality within the U.S., while also enabling transnational tax abuse and undermining the ability of countries around the world to invest in human rights.

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Senate Votes to Increase Tax Avoidance, Offshore U.S. Jobs

Bipartisan Voices Agree that Senate Bill Will Increase Shifting of Production Overseas and Profits to Tax Havens

WASHINGTON, D.C. – The U.S. Senate on Saturday passed its own version of the “Tax Cuts and Jobs Act” — legislation that will reward offshore tax haven abuse and increase the incentive to outsource American jobs abroad, according to the Financial Accountability and Corporate Transparency (FACT) Coalition.

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Letter Opposing Senate Tax Cuts and Jobs Act (TCJA)

The Financial Accountability and Corporate Transparency Coalition (FACT Coalition) sent a letter to the Senate opposing the Tax Cuts and Jobs Act, as it would create significant new tax incentives to move U.S jobs, profits, and operations overseas, while exploding the deficit.

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House Passes Bill that Offshores American Jobs and Profits

Bipartisan Voices Agree that H.R. 1 Will Increase Shifting of Production Overseas and Profits to Tax Havens

WASHINGTON, D.C. – The U.S. House of Representatives on Thursday passed the “Tax Cuts and Jobs Act” (H.R. 1) — legislation that will reward offshore tax haven abuse and increase the incentive to outsource American jobs abroad, according to the Financial Accountability and Corporate Transparency (FACT) Coalition.

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Shopping for a Tax Haven: How Nike and Apple Accelerated Their Tax Avoidance Strategies, according to the Paradise Papers

By Steve Diese

A year and a half after the release of the Panama Papers, a new set of data leaks, the Paradise Papers released by the International Consortium of Investigative Journalists (ICIJ) provides important new information on the tax dodging of wealthy individuals as well as multinational corporations.

The leaked data, about 13.4 million files in total, exposes the tax avoidance schemes and strategies of wealthy and powerful individuals, as well as large corporations. More than 7 million of the files were obtained from the offshore law firm Appleby. The 119-year-old firm is a leading member of the global network of lawyers, accountants, bankers and other operatives who set up and manage offshore companies and bank accounts for clients who want to avoid taxes or keep their finances under wraps.

It is no secret that corporations like Nike and Apple are holding billions of dollars offshore for tax avoidance purposes, but the Paradise Papers give us a deeper look into what these tax avoidance schemes look like, and show that Apple’s leadership has aggressively moved to reinvent these schemes while simultaneously proclaiming their innocence.

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Sen. Johnson (R-WI): Senate Tax Bill Incentivizes Offshoring of Jobs and Production

Coalition Welcomes Wisconsin Senator’s Remarks in Opposition to Tax Plan

WASHINGTON, D.C. — In announcing his opposition to the Senate tax plan Wednesday, Sen. Ron Johnson (R-WI) mentioned that the bill’s shift to a so-called “territorial” tax system — whereby corporations are not taxed on their offshore profits — is one of the things that concerns him.

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