Global Financial Integrity - Advocacy

Advocacy

Global Financial Integrity (GFI) has pushed for policies that bring transparency to the international financial system and stem illicit financial flows. has urged the Organization for Economic Cooperation and Development (OECD) and the Financial Action Task Force (FATF) to implement new safeguards that will greatly improve transparency and cooperation in the global financial system. In early 2010, GFI launched the “G20 Transparency Campaign”, calling for greater transparency in the global financial system. Proposed measures include “requiring companies to report on the profits made and taxes paid in every country in which they operate” (Country-by-Country reporting) and automatic tax information exchange between tax jurisdictions. GFI has also called upon the G20 to take action to encourage the automatic exchange of tax information; over $12 trillion in assets is held in offshore accounts, with a yearly lost tax revenue of $255 billion.

GFI also has supported the bipartisan Stop Tax Haven Abuse Act, introduced by Senator Carl Levin. The bill would mandate Country-by-Country reporting for all companies registered with the SEC, a longtime goal of GFI.