Obama will seek tighter tax rules for corporate offshore profits

[DonViejo]

Source: Reuters

By Reuters
Thursday, February 20, 2014 19:25 EST

By Patrick Temple-West

WASHINGTON (Reuters) – The Obama administration said on Thursday it will seek new limits on overseas tax avoidance by corporations in its forthcoming budget proposal, reprising an approach it has made before to try to raise government revenue via a tighter corporate tax code.

With the U.S. Congress gridlocked over fiscal policy, past efforts by Democratic President Barack Obama to crack down on what he sees as offshore corporate tax loopholes have largely failed. The latest measures could meet the same fate.

In its fiscal year 2015 budget, the administration will move to keep corporations from cutting their bills by playing one country’s tax rules for hybrid securities off against another’s, an administration official said on Thursday.

The budget is scheduled to be released on March 4.

-snip-

Read more: http://www.rawstory.com/rs/2014/02/20/obama-will-seek-tighter-tax-rules-for-corporate-offshore-profits/

[russspeakeasy]

1. Yeah, right.

:

[heaven05]

2. he can seek

but will it happen? Nah!