Treasury Secretary Jacob Lew is leading the US Treasury's charge in constraining the creative techniques used to avoid US taxes - EPA Photo.
WASHINGTON: The US Treasury took action on Monday to halt a rising torrent of US companies moving offshore to cut their tax bills, saying the surge in so-called inversions threatened government income.
The move to close loopholes that encourage US companies to merge with a foreign firms and relocate their tax residences offshore could stifle takeovers announced this year worth hundreds of billion of dollars.
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