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.
The HBO television show Last Week Tonight with John Oliver has become known for its longer segments that examine important issues facing the country. In its latest segment on Sunday, the show took a deep dive into corporate taxes and how many companies manage to avoid paying their fair share. Between its hilarious interludes, the segment painted a striking portrait of problems in our corporate tax code and how the Tax Cuts and Jobs Act (TCJA) failed to address them. Here are some key points.