More U.S. companies doing deals to avoid U.S. taxes: Congress study

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More U.S. companies doing deals to avoid U.S. taxes: Congress study

<p><a href="http://news.yahoo.com/more-u-companies-doing-deals-avoid-u-taxes-210531058--sector.html"><img src="http://l2.yimg.com/bt/api/res/1.2/lkvalXNt_UQqHq6UkzS1Nw--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9NzU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2014-07-07T210531Z_1006950001_LYNXMPEA660WL_RTROPTP_2_CBUSINESS-US-USA-TAX-INVERSION.JPG" width="130" height="86" alt="The U.S. Capitol building is seen before U.S. President Barack Obama delivers his State of the Union address in front of the U.S. Congress in Washington" align="left" title="The U.S. Capitol building is seen before U.S. President Barack Obama delivers his State of the Union address in front of the U.S. Congress in Washington" border="0" /></a>By Kevin Drawbaugh WASHINGTON (Reuters) - Seventy-six U.S. corporations have shifted their tax domiciles out of the United States to other countries since 1983 to avoid U.S. taxes, with a sharp increase recently in such deals, a policy research arm of Congress said on Monday. Known as inversions, these transactions are still rare but are becoming more common and causing concern in Washington. Responding to a request from lawmakers for background, the Congressional Research Service said it had found 47 such deals had been done in the past decade and more are in the works. &quot;Barely a week seems to pass without news that another corporation plans to move its address overseas simply to avoid paying its fair share of U.S. taxes,&quot; said Democratic Representative Sander Levin in a statement.</p><br clear="all"/>

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