(Bloomberg) Senator Charles Schumer released a proposal today that would limit deductions available for U.S. companies that take a foreign address to reduce their taxes.
Schumer, a New York Democrat, wants to curb a practice known as “earnings stripping,” in which companies that engage in inversion transactions then load up their U.S. operations with debt and reduce their U.S. taxable income.
Register or login for access to this item and much more
All Accounting Today content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access