Obama could curb corporate 'inversions' on his own: ex-U.S. official

[riky]

Obama could curb corporate 'inversions' on his own: ex-U.S. official

<p><a href="http://news.yahoo.com/obama-could-curb-corporate-inversions-own-ex-u-042506738--sector.html"><img src="http://l2.yimg.com/bt/api/res/1.2/xnXD.VNaIqn7pQaxlW7ykQ--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9NzU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2014-07-28T042506Z_1_LYNXMPEA6R03J_RTROPTP_2_USA-OBAMA.JPG" width="130" height="86" alt="U.S. President Obama disembarks from Air Force One as he arrives at Los Angeles International Airport" align="left" title="U.S. President Obama disembarks from Air Force One as he arrives at Los Angeles International Airport" border="0" /></a>By Kevin Drawbaugh WASHINGTON (Reuters) - President Barack Obama could act without congressional approval to limit a key incentive for U.S. corporations to move their tax domiciles abroad in so-called &quot;inversion&quot; deals, a former senior U.S. Treasury Department official said on Monday. By invoking a 1969 tax law, Obama could bypass congressional gridlock and restrict foreign tax-domiciled U.S companies from using inter-company loans and interest deductions to cut their U.S. tax bills, said Stephen Shay, former deputy assistant Treasury secretary for international tax affairs in the Obama administration.</p><br clear="all"/>

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