Treasury weighing actions to stem tax inversions

Reuters News
Posted: Aug 05, 2014 4:50 PM

WASHINGTON (Reuters) - The Obama administration said on Tuesday it was considering administrative actions to discourage U.S. companies from moving to other countries to reduce their tax bills, given the failure of Congress to address the issue.

"Treasury is reviewing a broad range of authorities for possible administrative actions that could limit the ability of companies to engage in inversions, as well as approaches that could meaningfully reduce the tax benefits after inversions take place," a Treasury spokesperson said in an email.

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The spokesperson added that there were limits to what Treasury can do without action by Congress, and that "legislation is the only way to fully address inversions."

(Reporting by Jason Lange)