Businesses lambast US Treasury move against tax inversions
First published in Middle East North Africa Financial Network, 24 September 2014
Moving after Congress failed to act to stem a rising tide of inversion deals, the Treasury mainly took aim at one inversion benefit, the ability of the post-merger company to make use of profits hoarded offshore by a US company without paying US taxes on them.
Companies engaged in some of the more than 200 billion worth of inversion deals announced this year had mixed reactions. Fast-food giant Burger King saying it would go ahead with its 11 billion takeover of Canada's Tim Hortons, saying moving its tax address elsewhere is not the key point.
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