The President s Statement on Today s Treasury Department Action on Inversions

(White House) Today, the Treasury Department announced that it s taking action to reduce the tax benefits of -- and, where possible, stop -- corporate tax inversions from happening.
What s an inversion again In short, it s a type of corporate tax deal wherein a U.S.-based multinational with operations in other countries moves the tax residence of the parent company overseas -- moving into a low-tax jurisdiction to avoid paying U.S. taxes. (Want more details We break it down pretty thoroughly in this post.)

The President issued the following statement today about the Treasury s action.
read moreSource: www.whitehouse.gov