Inversions deal permitted
First published in USA Today, 23 September 2014
The $11.5 billion Burger King Worldwide (BKW) deal to buy coffee-and-doughnut chain Tim Hortons and reincorporate in Canada will proceed, despite an Obama administration crackdown on corporate inversions, the firms said Tuesday.
Treasury Secretary Jacob Lew said the crackdown is aimed at halting a wave of planned or announced inversions that could erode the nation's corporate tax base and shift more of the tax burden to small businesses and average American taxpayers. Lew stressed, however, that the rules were not designed to thwart strategic deals not exclusively based on corporate tax-cutting.
Your media contact for further queries is:
Barnaby Fry, MHP
T. +44 (0)203 128 8215
Quality tax advice, globally