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International Tax Policy Forum and Tax Policy Center

Corporate Inversions and Tax Policy

Featuring Keynote Remarks by Senator Orrin Hatch

Friday, January 23rd, 2015, 8:50 AM – 1:15 PM

The Brookings Institution, Falk Auditorium, 1775 Massachusetts Avenue NW, Washington, DC 20036

Corporate inversions, which change the tax home of a multinational corporation by merging it with a foreign company that then becomes the parent of the multinational group, received considerable attention in 2014, including from the IRS, which in September released a notice describing regulations the government intends to issue to reduce the tax benefits of future inversion transactions.  Corporate inversions elicit strong reactions: some call U.S. companies involved in these transactions “unpatriotic,” while others view them as symptomatic of an out-of-step U.S. corporate tax system, with its high rate and worldwide reach that differs from the territorial taxes widely used by other countries. These inversions are also not unique to the U.S, with firms in the United Kingdom and elsewhere also using them during periods when their foreign incomes were subject to high rates of domestic taxation.

 On Friday, January 23rd, the Urban-Brookings Tax Policy Center and the International Tax Policy Forum will co-host a conference examining the history, causes, and consequences of corporate inversions, the policy response in the United Kingdom, and what actions the U.S. should take.  Experts from a variety of backgrounds will share their perspectives, and Senator Orrin Hatch will give keynote remarks at the close of the event.


To watch the video conference:

Link to the conference materials:  /action/document/download?document_id=1996

Mission and Goals

Founded in 1992, the International Tax Policy Forum (ITPF) sponsors nonpartisan academic research and conferences to promote an informed dialogue on international tax issues. Currently, ITPF's membership includes more than 40 major, U.S.-based multinational companies.

ITPF Members
ITPF's membership consists of major U.S.-based multinational companies, representing diverse industries and a huge portion of overall U.S. economic activity.

Abbott Laboratories
AbbVie, Inc.
Alcoa Inc.
American Express Company
American International Group
Bank of America
Bank of New York/Mellon
Barclays Capital Inc.
Boston Scientific
Cargill Inc.
Caterpillar Inc.
Chevron Corporation
Cisco Systems, Inc.
Citigroup, Inc.
Coca-Cola Company
Dow Chemical Company
E.I. DuPont De Nemours & Co.
Eaton Corporation
Exxon Mobil Corporation
General Mills
Goldman Sachs
Hewlett-Packard Company
IBM Corporation
Johnson & Johnson
Johnson Controls Inc.
Mars, Incorporated
McDonald's Corporation
Mondelez International Inc.
Morgan Stanley
PepsiCo, Inc.
Pfizer Inc.
Procter & Gamble Company
State Street Corp.
Time Warner, Inc.
Tupperware Corporation
United Technologies Corporation
Walmart Stores Inc.

Latest International Tax Policy News

US Treasury unveils new measures to deter tax inversions

by Barney Jopson (Financial Times)

The Obama administration has unveiled new measures aimed at deterring tax-cutting corporate transactions such as Pfizer’s potential $150bn deal to buy Dublin-based Allergan.

For the Financial Times story, go here.

U.S. Unveils Rules to Make Corporate Inversions More Difficult

by Richard Rubin (Wall Street Journal)

The Treasury Department on Thursday released new rules to restrain U.S. companies from putting their addresses in foreign countries to reduce their tax bills.

The changes will make it harder for U.S. companies to buy a company in one foreign country and locate the combined entity’s address in a different country. They also would limit companies’ maneuvers before a merger to make a foreign company look bigger and thus escape existing U.S. tax restrictions.

For the Wall Street Journal story, go here.