US CRACKS DOWN ON ‘UNPATRIOTIC’ CORPORATIONS’ TAX INVERSION DEALS (STA BREAKING NEWS and ARCHIVES)

by STANews , Wednesday, September 24, 2014, 12:25

The American corporations labeled unpatriotic for exploiting loopholes to avoid US taxes may see the so-called tax inversion schemes much less lucrative with the new rules announced by the US Treasury to crack down on the practice.

The American corporations labeled unpatriotic for exploiting loopholes to avoid US taxes may see the so-called tax inversion schemes much less lucrative with the new rules announced by the US Treasury to crack down on the practice.

“Today, in an important first step, the Treasury is announcing targeted action to meaningfully reduce the economic benefits of corporate inversions, and when possible, stop them altogether,” US Treasury Secretary Jack Lew, said in a statement on Monday.

A number of US corporations were labeled “unpatriotic” for engaging in tax inversion, where an American company buys up a foreign one and then moves their headquarters to the host country to take advantage of the lower corporate tax rates.

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http://rt.com/usa/190080-us-acts-corporations-tax-inversion/