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This R&D provides resources on corporate tax inversions in the United States. An inversion is where a corporation re-incorporates itself in another location to lower its tax burden. Corporations usually do this by merging with another entity, as Pfizer, an American pharmaceutical company, recently attempted to do with Allergan, an Irish pharmaceutical firm. The Obama administration is taking action via the Treasury Department to prevent inversions of this sort and its rules blocked Pfizer’s move. Critics argue that the best way to prevent more inversions – a practice that has accelerated with American firms since 2014 – is to overhaul the U.S. tax code instead of relying on executive actions.
Only Congress can fully stop inversions and the looting of the American corporate taxes. https://t.co/E5hth6cZsB pic.twitter.com/jIF7TOgiMd
— NYT Opinion (@nytopinion) April 7, 2016
President Obama praises new federal steps designed to deter corporate financial practice known as ‘tax inversions:” https://t.co/eORlWX8fBr
— The Associated Press (@AP) April 5, 2016
Obama lumps in tax inversions with #PanamaPapers, but @MKTWGoldstein says he’s wrong: https://t.co/0CfAUUFibJ pic.twitter.com/4pcSuJ2uRx
— MarketWatch (@MarketWatch) April 6, 2016