Tax Havens


U.S. multinational corporations have more than $2 TRILLION in profits stashed offshore – much of it in tax havens. As long as those profits are offshore, a tax loophole lets corporations dodge paying taxes on them.

It’s time for big corporations to pay the $600 BILLION in taxes they owe America. When corporations don’t pay their fair share of taxes, the rest of us have to make up the difference. Imagine what we can do with $600 BILLION – create good-paying jobs, improve schools, make college affordable, rebuild crumbling roads and bridges, research new medical cures and more.

 

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Key Facts about Tax Havens and Corporate Tax Reform ATF and FACT Coalition Letter to Oppose a Repatriation Tax Holiday 37 National Organizations to Congress: Reject Sen. Bennet’s Partnership to Build America Act 538 Organizations to Congress: Close Offshore Corporate Tax Loopholes – Invest in the U.S Four Reasons to Support the Stop Tax Haven Abuse […]
The Stop Tax Haven Abuse Act (S. 1533) would raise about $220 billion over the next decade by closing tax loopholes that encourage U.S. corporations to move jobs, profits and operations offshore and prevent them from paying their fair share of taxes. The following are real-life examples of corporate tax dodging that would be prevented […]
Dear Senator:   We urge you to reject the Partnership to Build America Act (S. 1957 – Sen. Bennet), which calls for a “repatriation tax holiday” allowing U.S. multinational corporations to bring home offshore profits tax-free if some of the money is used to buy bonds in an infrastructure bank. A temporary corporate tax holiday […]
June 27, 2014   Dear Senator:   On behalf of Americans for Tax Fairness and the Financial Accountability & Corporate Transparency (FACT) Coalition, we write to urge you to oppose any legislation that would lower the U.S. tax rate on offshore profits that multinational corporations officially bring back to the United States. Commonly known as […]
The following is excerpted from a Sept. 25, 2015 letter to Congress by 24 international tax experts. Below is summarized some of the best scholarly research showing how the current system ensures that U.S. firms, especially multinationals, pay relatively low effective tax rates, compared with their competitors, many of which have territorial tax systems: Effective […]
For a Chartbook of the facts below go here. 1. U.S. corporations have $2.1 trillion in untaxed profits offshore. They have not paid any U.S. taxes on these profits because our tax system lets them defer paying taxes until that income is brought home, or repatriated. The amount of untaxed offshore profits has increased nearly […]
1. U.S. corporations have $2.1 trillion in untaxed profits offshore. These profits have increased nearly five-fold over 10 years – from $434 billion in 2005 to $2.1 trillion today – in anticipation of a tax holiday. 2. Just 50 companies hold 75% of the $2.1 trillion in untaxed offshore profits. Ten companies hold 36% of […]
1. U.S. corporations have $2.1 trillion in untaxed profits offshore. These profits have increased nearly five-fold over 10 years – from $434 billion in 2005 to $2.1 trillion today – in anticipation of a tax holiday. 2. Just 50 companies hold 75% of the $2.1 trillion in untaxed offshore profits. Ten companies hold 36% of […]
RESOURCES ON THE STOP TAX HAVEN ABUSE ACT: –538 Organizations to Congress: Close Offshore Corporate Tax Loopholes, Invest in the U.S. –Biggest Revenue Raisers in Sen. Levin’s Stop Tax Haven Abuse Act – Americans for Tax Fairness –Press Release Praising Sen. Levin’s Legislation to Stop Abuse of Corporate Tax Havens – Americans for Tax Fairness […]