The Foreign-Derived Intangible Income (FDII) deduction benefits relatively few companies, costs the U.S. tens of billions annually in lost revenue, and perversely encourages corporations to move jobs and investment abroad.
FACT releases a new policy platform to guide multinational tax reform in 2025, and Treasury and the SEC release joint proposal introducing anti-money laundering safeguards for investment advisers.
Build Back Better offers a first step toward meaningfully curbing tax-haven abuse, protecting American jobs, and beginning to meet the challenge set by the Biden Administration to end the international race to the bottom in corporate tax collections.
US multinational corporations currently pay little to no US tax on their foreign profits, which incentivizes these companies to shift profits and real operations to tax havens.
New report finds taxpayers lose $427 billion worldwide to individual tax evasion and multinational corporate profit-shifting, undercutting a COVID-19 response.
Investors with $811 billion in assets managed sent a letter to the Senate backing public country-by-country reporting to reduce investor risk in multinational enterprises.
