![“Competitiveness” Has Nothing to Do With It](/summary-img/22858-I0PFF3P4.jpg?h=M&b=0)
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Recommendation
More and more US multinationals are undertaking corporate inversions – transactions in which a large firm becomes a “nominal subsidiary” of a smaller foreign company in a tax-friendly jurisdiction. Generally, companies structure such deals so that they can shelter income in a low-tax country. American corporations claim that these transactions are necessary if they are to remain globally competitive in a high US tax environment, but such assertions are “almost entirely fact free,” according to professor Edward D. Kleinbard. His rigorous examination of often-tedious tax rules contrasts with his fiery debunking of corporate complaints. getAbstract recommends Kleinbard’s intriguing, lively take on a timely topic – particularly as the White House moves to curtail inversions – to CEOs, legislators, and others with an interest in reforming the US corporate tax code and keeping American tax dollars in the United States.
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About the Author
Edward D. Kleinbard is a professor of law and business at the USC Gould School of Law.
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