Financial Transparency Coalition

Every year, multinational corporations avoid billions of dollars in taxes globally by using abusive profit shifting to move revenue to tax havens and costs to jurisdictions where they actually do business. This is called transfer pricing, and is the biggest problem that the Task Force's Country-by-Country Reporting recommendation is designed to fix, by forcing publish exposure of where firms are reporting their figures. We're Not Broke, the documentary released last year on corporate tax avoidance and the movement to change it, is now available in segments on Youtube. And unlike our previous post on We're Not Broke, the segments are...

WASHINGTON DC – In the midst of a Congressional and White House showdown over the impending sequestration, and growing calls for corporate tax reform, Senator Carl Levin (D-MI) and Senator Sheldon Whitehouse (D-RI) put forth the Cut Unjustified Tax Loopholes Act (S. 268, CUT Loopholes Act). This bill, which closes loopholes and strengthens enforcement measures against offshore tax haven abuse, could raise nearly $200 billion over ten years.

Is it inevitable that multinational companies pay pitifully small sums in tax relative to huge profits? Not necessarily because amid growing political and public outrage at how multinationals organise their tax affairs, a new report today suggests there could be an alternative.

BRUSSELS - International development agency Oxfam and the European Network on Debt and Development (Eurodad) welcome the European Commission’s initiative to step up action against tax fraud and tax evasion, which cost billions in tax revenues in Europe but also in developing countries.