Activists Pushing Bill They Say Would Close Tax Loophole
BOSTON (AP) — With Tax Day approaching fast, activists are calling on Massachusetts lawmakers to crack down on what they describe as offshore tax haven abuse by large companies.
On Tuesday, the group MASSPIRG is planning to release a report detailing how they say companies use the tax code to shift profits made in America to areas like the Cayman Islands, where they pay little to no taxes.
A handful of lawmakers are planning to attend the Statehouse event, including Democratic state Sen. Mark Montigny of New Bedford.
The group says the report will estimate how much small businesses in Massachusetts would have to pay on average to make up for the money lost in 2014 to tax havens.
The activists are pushing a bill they say would tighten the tax code in Massachusetts.
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