Legislative Update: Anti-inversion bill is introduced

Anti-inversion bill is introduced in United States

Rep. Sandy Levin (D-MI)—ranking member of the Ways and Means Committee—today introduced anti-inversion legislation.

Related content

The bill—Protecting the U.S. Corporate Tax Base Act of 2016—follows on two previous anti-inversion bills introduced by Rep. Levin, the Stop Corporate Earnings Stripping Act of 2016 and the Stop Corporate Inversions Act of 2015

Today’s bill is targeted at limiting the use of planning techniques often employed in conjunction with corporate inversion transactions—so-called “hopscotching” and “de-controlling.” Read a summary [PDF 605 KB] and text [PDF 47 KB] of the bill.

With the limited congressional legislative schedule for the balance of 2016, action on today’s bill is uncertain.

© 2016 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.

The KPMG logo and name are trademarks of KPMG International. KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.

Connect with us

 

Request for proposal

 

Submit

KPMG's new digital platform

KPMG's new digital platform