Treasury Studying Corporate Anti-Inversion Laws After 10-Year Wait

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July 15 —  The Treasury Department is beginning work on a report mandated by Congress 10 years ago as part of fresh efforts to crack down on corporate inversion transactions, a top Treasury official said.

In a letter to Sen. Charles Grassley (R-Iowa), Treasury Assistant Secretary for Legislative Affairs Alastair Fitzpayne said the report has been delayed because of the time it took Treasury to draft the rules and issue guidance to implement the anti-inversion language of the 2004 law.

Grassley wrote a letter to Treasury Secretary Jacob J. Lew in March to urge the department to issue its report so lawmakers can properly evaluate what changes, if any, may be needed to end corporate inversion abuses under tax code Section 7874.