Get moving on inversions. Americans for Tax Fairness made the case in a recent release that the administration could be doing more to take away the benefits to corporations, like Pfizer and Johnson Controls, that head to the exits. Reuven Avi-Yonah, an international tax expert at Michigan, said that Treasury could follow through on a 2014 notice saying it would strip key tax breaks from inverted companies. “This remedy would result in U.S. taxes on any distributions of the offshore profits to the newly formed foreign parent company,” Avi-Yonah said in a statement released by Americans for Tax Fairness. “That would probably stop these inversions in their tracks.” http://bit.ly/1nHclcY
This piece appeared in POLITICO Morning Tax.