ELECTION MAY MEAN DRUG COMPANIES CAN BRING HOME FOREIGN EARNINGS

 

Drug and device companies may soon be able to bring home earnings parked abroad because of tax concerns.

President-elect Donald J. Trump’s tax plan includes a proposal that would ease the tax burden on companies seeking to repatriate overseas earnings. He has also proposed lowering the U.S. business tax rate to encourage companies to bring home foreign dollars sitting overseas.

“One has to wonder if there will be a tax holiday to allow repatriation of foreign profits,” Jake M. Holdreith, a health and life sciences lawyer at Robins Kaplan LLP in Minneapolis, told me.

For additional insights on how the election results may affect the drug industry, see //src.bna.com/kkK.

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