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Corporations response: Obama crackdown on inversion deals

Corporations response: Obama crackdown on inversion deals
Global
24 Sep 2014

First published in MINN Post, 23 September 2014

At USA Today Kevin McCoy writes, “The rules, which took effect immediately, would cover pending deals such as Burger King's merger with Canada's Tim Horton's doughnut chain and medical device maker Medtronic's acquisition of Ireland's Covidien. 

"The continued approach of the US on this issue is yet another example of antiquated tax policy which fails to create a pro-business environment," said Frederic Donnedieu, chairman of Taxand. 

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Taxand's Take

Combined with its approach towards offshore cash, the US is creating an uneven playing field and is losing out to those jurisdictions who recognise the benefits of a forward looking tax policy.

Taxand's Take Author