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Trump Weighs Weakening Obama Rules to Curb Corporate Inversions
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Contributor | RP |
Last Edited | RP Oct 08, 2019 04:49pm |
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Category | Rule Change |
Author | Allyson Versprille , Isabel Gottlieb , and Laura Davison |
News Date | Tuesday, October 8, 2019 08:20:00 PM UTC0:0 |
Description | Treasury Department officials are considering rolling back a tax rule aimed at preventing American companies from moving money offshore to avoid U.S. taxes, according to several people familiar with discussions.
The Treasury is looking at regulations intended to prevent American firms from lowering their U.S. tax bills by shifting income to their offshore branches that they can loan to their domestic branches and deduct the interest off their Internal Revenue Service bills. The department is also contemplating repealing them entirely to replace them with something more business-friendly. |
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