Monday, April 04, 2016

Treasury Dept. tries again to stop companies from giving up U.S. citizenship

(Washington Post) The Treasury Department on Monday took aim at U.S. companies moving their headquarters overseas to lower their tax bills, issuing aggressive new rules intended to make such moves less profitable and throwing a potential wrench into Pfizer’s recent $160 billion proposed deal to combine with Allergen and become an Irish company.

This is the third round of rules the Obama administration has issued over the last two years to stop the flow so-called inversions, in which U.S. companies are technically bought by foreign firms to reduce U.S. taxes.

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