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US corporations angry at treasury moves

US corporations angry at treasury moves
24 Sep 2014

First published in The West Australian, 23 September 2014

Washington (AFP) - US business groups on Tuesday blasted as counter-productive the government's moves to curb tax inversion mergers that allow a company to escape US taxes.

But analysts said the rules could prove only partly successful at stemming corporate flight, and businesses involved in inversion deals had mixed reactions.

A day after the US Treasury sought to plug loopholes that encourage companies to move their tax residence offshore via takeovers of foreign firms, leading business associations said it was the wrong way to slow the departure of US companies wanting to lower their tax bills.

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Taxand's Take

The move will make it harder for companies to undertake inversions, but it does not remove all the benefits.

Taxand's Take Author