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ARTICLE · 29 OCTOBER 2014

Tax Policy Update - October 27, 2014

McGuireWoods LLP
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Two is the number of new corporate tax inversion deals announced since the U.S. Treasury Department issued new regulations Sept. 22 to make the deals more difficult.

United StatesTax
Russell Sullivan
Russell Sullivan
Danielle Dellerson
Danielle Dellerson

NUMBER OF THE WEEK: 2.

The number of new corporate tax inversion deals announced since the U.S. Treasury Department issued new regulations Sept. 22 to make the deals more difficult and less financially appealing. Ohio-based Steris Corp. offered to buy UK's Synergy Health Plc in a deal that would shift Steris' tax domicile to Britain, and Houston-based oilfield housing supplier Civeo Corp said it will redomicile in Canada for tax purposes.

LEGISLATIVE LANDSCAPE

Portman Says "Love Your Country, Reform Its Tax Code." In response to the latest corporate inversion announcements — this time including Buckeye State medical supply firm Steris Corp. — Ohio Senator Rob Portman (R) wrote an op-ed for Bloomberg calling upon lawmakers to show their patriotism by overhauling the tax code.

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