THE members of the Financial and Corporate Transparency (FACT)
have supported amendments that aim at abuse of corporate offshore tax
havens that have been offered in the Senate Budget Resolution debate.
+ Base Erosion (Brown): To ensure a tax code that prevents U.S. firms from
avoiding taxation by using foreign subsidiaries to exploit U.S. markets or by
shifting profits to foreign subsidiaries in amounts disproportionate to the
activities and tangible business assets of such entities, as determined by the
Joint Committee on Taxation;
+
Deficit Reduction Reserve Fund to End offshore tax abuses by large corporations.
|
