WASHINGTON (The Deal) -- The U.S. Treasury Department on Monday launched a long-expected administrative effort to limit the economic benefits that come when U.S. companies merge with foreign rivals in countries with lower tax rates and reincorporate there. At issue are so-called "inversions," where U.S. companies combine with foreign businesses as part of an effort to switch tax domiciles to avoid the comparatively high 35% U.S.
U.s. Takes Steps To Limit Tax Inversion Deals For Overseas M&a
twocents@thestreet.com (Ronald Orol), The Street
Tue, 09/23/2014 - 6:20am
Topics: we washington the deal the u.s treasury department sept the treasury august burger king worldwidea tim hortonsa canada the joint commission taxation internal revenue service treasury secretary jacob lew americans lew democrats november sen carl levin rep sander levin senate permanent subcommittee investigations rep dave camp r-missouri ways means d-conn democratic-backed bkw leisure deal the the u.s treasury treasury department rep rosa delauro lew republican d-mich sen levin camp camp congress click steps limit overseas tax inversion companies foreign inversions rules administration corporate avoid official company issue called size urged benefits reform administrative important assets federal contracts effort expected outgoing economic years prohibit code research so-called plans businesses government transactions inflate monday added enact move corporation broad measure moving prohibited action work target
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