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ASBC in the News

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How States Can Help Shut Down Tax Havens by Cracking Down on Profit Shifting

An article in Just Taxes cites ASBC's new study, A Simple Fix for a $17 Billion Loophole, by ITEP, the U.S. PIRG Education Fund, SalesFactor.org, and the American Sustainable Business Council (ASBC) <--break->finds that states could raise as much as $17 billion in additional revenue in one year by developing legislation that would make it harder for companies to avoid taxes by shifting profits into domestic or offshore tax havens. The simple fix is mandating that corporations pay taxes based on their total worldwide profits and where they are doing business.

Source Author: 
Richard Phillips
Source Publication Date: 
January 17, 2019