Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsIRS Chief Says It Can’t End Companies’ Offshore Tax Deals
http://www.bloomberg.com/news/2014-04-30/treasury-said-to-favor-crackdown-on-tax-lowering-moves.htmlThe U.S. government probably cant take regulatory action to stop companies from lowering tax bills through deals that put their legal addresses outside the country, John Koskinen, commissioner of the Internal Revenue Service, said today.
Pfizer Inc. (PFE) this week proposed the biggest such deal yet, a $98.7 billion takeover of AstraZeneca Plc (AZN) that would move the largest U.S. drugmaker to the U.K. for tax purposes and lower its tax rate.
Weve done, I think, probably all we can within the statute, Koskinen, 74, told reporters in Washington today, saying the trend of corporate moves point up the need to revise the U.S. tax code. We try to make sure people are within the bounds, but if theyre within the bounds, if they play according to the rules, then they have a right to do that.
Koskinens remarks show the limits of the governments ability to respond without Congress and suggest that the Obama administration wont make a regulatory move to stop or limit so-called corporate inversions.
InfoView thread info, including edit history
TrashPut this thread in your Trash Can (My DU » Trash Can)
BookmarkAdd this thread to your Bookmarks (My DU » Bookmarks)
3 replies, 669 views
ShareGet links to this post and/or share on social media
AlertAlert this post for a rule violation
PowersThere are no powers you can use on this post
EditCannot edit other people's posts
ReplyReply to this post
EditCannot edit other people's posts
Rec (1)
ReplyReply to this post
3 replies
= new reply since forum marked as read
Highlight:
NoneDon't highlight anything
5 newestHighlight 5 most recent replies
IRS Chief Says It Can’t End Companies’ Offshore Tax Deals (Original Post)
xchrom
May 2014
OP
GeorgeGist
(25,326 posts)1. Time to jack up the taxes on corporations doing business in US.
Keefer
(713 posts)2. Don't you think that would
Just encourage more corporations to "move" overseas?
Supersedeas
(20,630 posts)3. Isn't that special?
Last edited Thu May 1, 2014, 03:43 PM - Edit history (1)