Showing posts with label Tax residence. Show all posts
Showing posts with label Tax residence. Show all posts

Wednesday, October 1, 2014

Here’s What Inversions Are Costing Us

Seal of the United States Department of the Tr...
Seal of the United States Department of the Treasury (Photo credit: Wikipedia)

You don’t get to pick your tax rate. Neither 

should corporations.

That’s why, earlier this week, the Treasury Department took initial steps to prevent U.S. corporations from using a tax maneuver to avoid paying taxes in America. This loophole -- known as an “inversion” -- lets a company avoid taxes by relocating their tax residence overseas while changing very little else about its operations or business.
And it’s costing Americans nearly $20 billion over the next decade -- critical dollars that could grow and expand the middle class.