Corporate Accountability: They call it inversion. Its takes place when a US corporation changes its address to abroad and in so doing escapes US tax liability. An example is Burger King which is closing a deal to buy Canadian Tim Hortons and proposes to move its corporate address to Canada......In the absence of the ability to get Congress to act, the US Treasury Department has taken action in establishing regulations that will diminish or eliminate this and attendant schemes by our corporate would be expatriates. “This action will significantly diminish the ability of inverted companies to escape U.S. taxation,” Secretary Lew told reporters on a conference call yesterday. “For some companies considering deals, today’s action will mean that inversions no longer make economic sense.” ...............Amen and Amen.
Posted on: Tue, 23 Sep 2014 13:31:05 +0000
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