Deals
U.S. Takes Steps to Make Corporate Inversions More Difficult
- U.S. makes it more difficult to invert to third countries
- Rules come as Pfizer-Allergan discuss drug company deal
U.S. Treasury Toughens Stance on Tax Inversions
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The U.S. strengthened efforts to discourage corporate inversions by making the deals more difficult and limiting the benefits of the transactions, just as an iconic American firm considers shifting its legal address abroad to lower its taxes.
Inversions -- deals where U.S. companies take foreign addresses and cut their tax rates -- became a political flash point last year and may reemerge as a contentious issue in Washington. This week, New York-based Pfizer Inc. is in talks to become the largest company ever to escape the U.S. tax system through a takeover of Ireland-domiciled Allergan Plc.