World Leaders Gathered for Another Paris Agreement, and the U.S. Was Noticeably Absent

Tell me if you’ve heard this before:  Nations from around the world gathered in Paris to sign a multilateral agreement that had been negotiated over several years with the U.S. as a leading partner.   In the end, the U.S. was conspicuously absent from the ceremony and did not sign onto the final agreement.

I, of course, am referring to an effort to combat aggressive corporate tax avoidance and address the wealth-draining concerns over the growth of tax havens. See FACT’s statement on the event.  The agreement was a part of the multilateral initiative on Base Erosion and Profit Shifting (BEPS) negotiated through the Organization for Economic Cooperation and Development (OECD).  Over seventy countries moved forward with an agreement to combat tax avoidance by amending bilateral tax treaties.

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EU to Vote on Public Tax Disclosure

In a post Panama Papers world, secrecy seems to be losing its caché.   Public officials and the citizens they represent express increasing frustration with the hidden finances of powerful multinational companies and the ultra-wealthy.

In recent months, tax enforcement in the European Union (EU) has been stepped up with cases accusing tax haven countries of providing illegal state aid, aggressive tax avoidance strategies are being challenged and there is a promising push for greater financial transparency and accountability.

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FACT Welcomes Anti-Tax Dodging Proposal; Urges Treasury to Strengthen, Clarify Rule

FACT Coalition Submits Comments to the U.S. Department of the Treasury and the Internal Revenue Service on Proposed Country-by-Country Reporting Rule
WASHINGTON, DC – The Financial Accountability and Corporate Transparency Coalition (or FACT Coalition) submitted comments to the U.S. Department of the Treasury and the Internal Revenue Service today offering strong support for—and recommending measures to further strengthen and clarify—a proposed rule to crack down on abusive tax avoidance by multinational corporations.

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FACT Urges Lawmakers to Embrace Global “BEPS” Effort to Curb Egregious Corporate Tax Dodging

OECD’s Base Erosion and Profit Shifting (BEPS) Package “Important First Step” Towards Curtailing Abusive Tax Avoidance, but More Must Be Done
WASHINGTON, DC – As two congressional committees held hearings today on global efforts to tackle abusive corporate tax dodging, the Financial Accountability and Corporate Transparency (FACT) Coalition urged U.S. lawmakers to embrace the efforts, which target a practice gouging American taxpayers of roughly $90 billion per year.

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