Today Treasury Department issued new rules to guard against money-laundering, including in the U.S. real estate market – so that law-abiding homebuyers are not disadvantaged.

🥳 “After years of advocacy by lawmakers, #AML experts and civil society, the era of unmitigated financial secrecy and impunity for financial criminals in the US seems to finally be over" Ian Gary FACT Coalition

Why does America's tax system favor big corporations? One big reason: foxes are guarding the henhouse. Check out this great ICIJ story uncovering how a bipartisan law against sham tax transactions was undermined from within by revolving-door IRS lawyers.

Here's something that you probably didn't realize about the Trump tax scam: It incentivized big corporations to outsource jobs and profits. No, really—it actually made the tax rate on offshore profits HALF the domestic tax rate. We can do so much better for America's workers.

Are corporate tax cuts good for America? Almost 1/2 of any corporate tax break is a gift 🎁 for foreign investors who'd likely invest in American companies anyway to reap profits from American innovation. That's hardly an America-first policy.

US government: ❌won't properly tax American Big Tech companies, ❌also won't let other countries have a go at it! While tax and trade negotiations proceed on different planes and involve different areas of law, the upshot can't be that these companies continue to go untaxed.

"Just as the democratic world once built an international anti-communist alliance, so can the US and its allies build an international anti-corruption alliance, organised around the idea of transparency, accountability and fairness." Anne Applebaum in Financial Times 💯

"It would be crazy if American businesses are paying taxes in France that otherwise they would have been paying here." 💯 Sen. Mark Warner America's failure to tax the booming profits of its own multinational corporations is the definition of insanity Great piece Chris Cioffi

The US business tax system favors big multinational corporations, and small businesses know it. New Small Business Majority poll: more than 3/4 of those polled agree that large corporations unfairly leverage their foreign presence to reduce their US tax liability smallbusinessmajority.org/sites/default/…

#Trump proposed new #US sovereign wealth fund (SWF) this week at Economic Club of NY. SWFs can be a great way for countries to invest excess money, but can be susceptible to #MoneyLaundering #Corruption, esp when run by leaders with red flags for taking #bribes, other crimes

The Irish tax haven is alive & well, after various Irish, US and int'l tax reforms. Remains to be seen if latest round of OECD reforms (#Pillar2) will make a difference. Striking stats via Gabriel Zucman, timely given looming ECJ decision in the massive Apple-Ireland tax case.

America should have a higher corporate tax rate. And yes we can do it without denting America's global competitiveness. Here's the truth: America's real corporate rates are some of the lowest in the world. That's what really matters, not the statutory headline rate.

This is Margrethe Vestager, Europe's 'tax lady' (as Donald Trump called her). Today, she won a huge victory in the fight against Apple's massive tax avoidance. We need more awesome tax ladies like her. short 🧵 -->

The rich prefer cool cities to boring tax havens, confirms LSE study Just like corporations prefer to do business in places with good infrastructure, educated workforce and rule of law, as opposed to tax havens that lack those things. Tax competition is not destiny.

We FACT Coalition support the #TaxJustice day during this Global Week of Action for Climate Finance and a Fossil-Free Future. As our Ian Gary put it with David Waskow, "Fair tax systems are vital for strong climate action" thehill.com/opinion/energy…