WASHINGTON, DC – Global Financial Integrity (GFI) submitted a statement to the U.S. House of Representatives Committee on Ways and Means today on critical measures needed to ensure success in Congressional efforts to curtail abuse of tax havens. The statement, submitted for the hearing held today on “Banking Secrecy and Wealthy American Taxpayers,” recommends provisions set forward in the the Stop Tax Haven Abuse Act and Incorporation Transparency Act, both sponsored by Senator Carl Levin and introduced earlier this month.
WASHINGTON, DC – Global Financial Integrity (GFI) sent Congressional leadership a letter today signed by nearly 30 public interest groups affirming support for legislation that would combat offshore secrecy jurisdictions (Stop Tax Haven Abuse Act) and applauding Congressional action on the problem of tax haven abuse. Called the “Stop Tax Haven Abuse Act” the Levin bill would, among other benefits, give the Treasury Department “authority to take special measures against foreign jurisdictions and financial institutions that impede U.S. tax enforcement.” An estimated $100 billion in US taxes are lost each year due to the abuse of tax havens.
WASHINGTON, DC – Global Financial Integrity Director Raymond Baker released the following statement ahead of the upcoming G20 summit in London.
WASHINGTON, DC – The Government of Denmark is the newest member to join the Task Force on Financial Integrity and Economic Development, Global Financial Integrity announced this week.
WASHINGTON, DC – Global Financial Integrity welcomed the introduction of the Stop Tax Haven Abuse Act.
WASHINGTON, DC – International anti-corruption leader Transparency International (TI) is the newest member to join the Task Force on Financial Integrity and Economic Development, Global Financial Integrity (GFI) announced today.
WASHINGTON, DC – The discovery of “massive and on-going fraud” at Stanford Financial Group, intensifying U.S. pressure against Swiss bank UBS, and strong words of intent to crackdown on tax havens issued Sunday by EU finance ministers are just the latest events to underscore the need to institute transparency measures in tax and financial policy.
WASHINGTON, DC – Global Financial Integrity (GFI) applauds the European Commission’s adoption of measures to improve cooperation between EU member states and increase transparency in tax assessment and collection. These measures to abolish bank secrecy and foster greater cooperation between EU nations are part of wider EU efforts to crackdown on tax evaders.