The FACT Coalition sent a letter to the U.S. Securities and Exchange Commission voicing concerns that the proposed SEC rule does not currently align itself with the emerging global standards around transparency of tax and payments to governments.
$129 billion to $205 billion: Amount that U.S. taxpayers lose in federal revenue to offshore tax haven abuse each year.
$94 billion to $135 billion: Lost U.S. revenue from offshore profit shifting by multinational corporations annually.[i]
$35 billion to $70 billion: Lost U.S. revenue to tax evasion by wealthy individuals annually.[ii], [iii]