About Fact coalition
Fact Coalition: Fighting for Transparency and Accountability in Corporate Operations
The Fact Coalition is a non-profit organization that is dedicated to fighting offshore tax abuses, promoting transparency in corporate ownership and operations, and advocating anti-money laundering policies. The coalition was formed in 2011 by a group of organizations that were concerned about the impact of tax evasion on the global economy.
The coalition's mission is to promote policies that will ensure that corporations pay their fair share of taxes, operate transparently, and do not engage in money laundering or other illegal activities. The coalition believes that these policies are essential for creating a level playing field for businesses, protecting consumers from fraud and abuse, and promoting economic growth.
One of the key issues that the Fact Coalition focuses on is offshore tax abuses. Many multinational corporations use complex structures to shift profits to low-tax jurisdictions where they have little or no real business activity. This allows them to avoid paying taxes in countries where they actually operate, depriving governments of much-needed revenue.
To address this issue, the Fact Coalition advocates for reforms such as country-by-country reporting (CBCR), which requires multinational corporations to disclose their profits and taxes paid in each country where they operate. CBCR would make it easier for governments to identify companies that are engaging in aggressive tax planning or other forms of financial misconduct.
Another area where the Fact Coalition is active is promoting transparency in corporate ownership. Anonymous shell companies can be used by criminals to launder money or evade taxes without being detected. By requiring companies to disclose their beneficial owners – the individuals who ultimately control them – governments can prevent these types of abuses.
The coalition also advocates for stronger anti-money laundering (AML) policies. Money laundering enables criminals to profit from illegal activities such as drug trafficking or human trafficking while avoiding detection by law enforcement agencies. Strong AML laws can help prevent this type of criminal activity by making it more difficult for criminals to move money through legitimate financial channels.
In addition to its advocacy work, the Fact Coalition also conducts research and provides education on issues related to tax evasion, corporate transparency, and money laundering. The coalition's website features a wealth of resources for policymakers, journalists, and concerned citizens who want to learn more about these issues.
Overall, the Fact Coalition is an important voice in the fight against offshore tax abuses and other forms of financial misconduct. By promoting transparency and accountability in corporate operations, the coalition is working to create a fairer and more just global economy.