The Financial Accountability & Corporate Transparency (FACT) Coalition is a nonpartisan alliance of over 100 state, national, and global groups working toward a fair tax system that addresses the challenges of a global economy and promoting policies to combat the harmful impact of corrupt financial practices.
Our Goals
* End the use of anonymous shell companies as vehicles for illicit activity;
* Strengthen, standardize, and enforce anti-money laundering laws;
* Require greater transparency from multinational corporations to promote informed tax policy;
* Ensure that the US constructively engages in global financial transparency initiatives; and
* Eliminate loopholes that allow companies and individuals to offshore income and avoid paying their fair share of taxes.
Why It Matters
There's untold wealth hidden in secrecy jurisdictions worldwide. The wealth-stripping from corrupt practices and regimes, illegal activity, and legal-but-ethically-bankrupt tax avoidance schemes is larger than most can imagine. Because of the secret nature of the financial flows, it's impossible to know exactly the amount of money, but estimates range from $7.6 trillion to $32 trillion stashed in secrecy jurisdictions.
More than $2.4tr is currently stashed offshore by Fortune 500 companies, costing taxpayers nearly $700bn. Indeed, the annual cost of offshore tax avoidance by multinational companies is $94 billion to $135bn, while overseas tax evasion by individuals drains an additional $40bn to $70bn each year from the public.
We seek a larger conversation about how certain interests manipulate the tax system and undermine our ability to act collectively to solve problems. The secrecy, in particular, allows certain entities to play by a different set of rules than the rest of us. Globally, the secrecy facilitates corruption and impoverishes poor countries. In the US, we are complicit in the draining of wealth of other nations and fueling the austerity movement in our own.
Company Details
- Employees
- 9
- Founded
- -
- Address
- 1100 13th St Nw,
- Industry
- Public Policy Offices
- NAICS
-
Executive, Legislative, and Other General Government SupportPublic Finance ActivitiesExecutive and Legislative Offices, CombinedAmerican Indian and Alaska Native Tribal GovernmentsOther General Government Support
- Website
- thefactcoalition.org
- Keywords
- Tax Havens, Anonymous Companies, Anti-Money Laundering, Transparency, Accountability, Good Governance, Tax Evasion and Avoidance, Beneficial Ownership Transparency, Tax Transparency, Country-by-Country Reporting.
- HQ
- Washington, District of Columbia
- Competitors
- Fundación para la Conservación y el Desarrollo Sostenible, Inter-American Dialogue, Global Financial Integrity, Global Coalition to Fight Financial Crime, InSight Crime, Transparency International, International Coalition Against Illicit Economies (ICAIE) / ICAIE Labs, Anti-Corruption Data Collective, Instituto Igarapé, Frankfurt Zoological Society / Zoologische Gesellschaft Frankfurt.
Fact Coalition Questions
Fact Coalition's website is thefactcoalition.org
Fact Coalition's LinkedIn profile is https://www.linkedin.com/company/fact-coalition
Fact Coalition has
9 employees.
View email and phone details for 9
employees at Fact Coalition.
Fact Coalition's industry is
Public Policy Offices
Fact Coalition's top competitors are
Fundación Para La Conservación Y El Desarrollo Sostenible,
Inter-American Dialogue,
Global Financial Integrity,
Global Coalition To Fight Financial Crime,
Insight Crime,
Transparency International,
International Coalition Against Illicit Economies (Icaie) / Icaie Labs,
Anti-Corruption Data Collective,
Instituto Igarapé,
Frankfurt Zoological Society / Zoologische Gesellschaft Frankfurt.
Fact Coalition's categories are Public Policy Offices
Fact Coalition's founding year is 2011
