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ARTICLE · 04 AUGUST 2014

Lawmakers Debate Options For Curbing Offshore Inversions

Grant Thornton LLP
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Congressional tax writers spent much of last week debating anti-inversion tax proposals.

United StatesTax
Mel Schwarz
Mel Schwarz
Dustin Stamper
Dustin Stamper
Shamik Trivedi
Shamik Trivedi
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Congressional tax writers spent much of last week debating anti-inversion tax proposals as the Obama administration continued to push for a response to a wave of announcements from U.S. companies looking to merge and relocate overseas.

On July 15, Treasury Secretary Jacob Lew wrote House Ways and Means Committee Chair Dave Camp, R-Mich., calling for Congress to enact retroactive legislation that would discourage companies from relocating overseas by tightening the anti-inversion rules in Section 7874. As many as eight major U.S. companies have recently announced deals that would see them merge with smaller companies overseas and use the transactions to reorganize as non-U.S. entities.

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