Financial Transparency Coalition

The General Assembly of the United Nations adopted the attached outcome document for the 2010 Millennium Development Goals (MDGs) Summit by consensus on September 22, 2010. The document puts forth an action agenda for achieving the MDGs by 2015; the agenda includes tackling the issue of illicit financial flows as one of the action items.

The 2010 annual conference of the Task Force on Financial Integrity and Economic Development will take place September 28-29 in Bergen, Norway. Register now to reserve your place.

A report prepared by the staff the of the Joint Committee on Taxation for a public hearing held on 22 July 2010 before the House Committee on Ways and Means includes six case studies of companies that reported effective tax rates at least 10 percentage points lower than the U.S. statutory rate for a period of years, along with large gaps between the countries in which they reported sales and the countries in which they reported earnings.

A new Business Against Tax Havens report, 'Unfair Advantage: The Business Case Against Overseas Tax Havens,' looks at the unfair advantages that large companies have as a result of tax evasion and the amount of revenue lost in tax havens. The report puts forth nine policy recommendations, which include banning offshore corporations and repealing the 80/20 rule.