Global Financial Integrity

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Congressional Briefing Today on Tax Evasion, Banking Secrecy, and Improving Financial Transparency

Monique Perry Danziger, +1 202 293 0740 ext. 222
Global Financial Integrity
Monique Perry Danziger, +1 202 293 0740 ext. 222

WASHINGTON, DC – Congressional and Federal Agency staff will meet this morning for a legislative briefing organized by Global Financial Integrity, Citizens for Tax Justice, and Tax Justice USA on issues related to tax evasion, banking secrecy, and key legislation aimed at improving compliance with U.S. tax laws and increasing transparency in offshore and onshore financial practices.

The briefing “Tax Evasion and Incorporation Transparency: Show U.S. the Money” features presentations by international business and finance expert Raymond Baker, Washington lawyer Jack Blum, tax policy expert Bob McIntyre, and former private banker specializing in offshore accounts, Sarah Lewis.

The briefing is being held this morning in Rayburn B-354.  Doors open at 8:30am with presentations scheduled to begin at 9:00am and conclude at 10:30am.

Topics to be covered include:

    • The on-going UBS civil case The Stop Tax Haven Abuse Act;
    • Proposed legislation by Senate Finance Committee Chairman Senator Baucus on deterring offshore tax haven abuse and enhancing IRS enforcement capacity;
    • The Incorporation Transparency and Law Enforcement Act;
    • Multinational corporate tax abuses and proposed solutions; and
    • The role of private bankers in offshore finance and tax evasion.

The presentations and briefing materials will be available on the Global Financial Integrity Web site,, directly following the morning event (Update: Click here to download the briefing materials).

Resources available include:

    • Video of presentations,
    • Transcript of question and answer session with presenters,
    • A detailed explanation of relevant legislation and the Obama Administration’s proposal for improving tax compliance and curtailing offshore bank secrecy;
    • A review of current U.S. company formation practices by-state and discussion of why disclosure of beneficial ownership is critical to U.S. law enforcement, finance regulation, and on-going U.S. attempts to crack down on tax havens and bank secrecy;
    • Graphic of U.S. deposits in tax havens;
    • Fact sheet on the myths and facts about offshore tax abuse