Public pension funds have major stakes in American firms moving overseas to cut their tax bills. But they are saying little about the strategy.» Read More
WASHINGTON, May 20- Taking aim against corporate tax avoidance, Democrats in the U.S. Congress called on Tuesday for curbs on U.S. multinationals that shift tax domiciles abroad in deals known as "inversions."
While still rare, the deals are becoming more common, with two recently attempted transactions by Pfizer Inc and Omnicom Group Inc drawing attention to the strategy. The bill, to be introduced also in the House of Representatives, was unlikely to become law any time soon, because Congress is deadlocked on fiscal issues, policy analysts said.
WASHINGTON, May 19- Corporate tax-dodging deals known as inversions, in which a U.S. multinational shifts its tax domicile to a lower-tax country, would be restricted under legislation to be proposed in both houses of Congress by Democrats on Tuesday. Representative Sander Levin and Senator Carl Levin, brothers from Michigan, will both propose bills, aides said.
Democratic Senator Carl Levin on Thursday said he plans to introduce legislation soon to prevent corporate inversions, an increasingly-popular transaction that involves U.S. companies reincorporating overseas to avoid U.S. taxes.
Democratic Senator Carl Levin on Thursday said he plans to introduce legislation soon to prevent corporate inversions, an increasingly popular restructuring that involves U.S. companies moving overseas to avoid U.S. taxes. Levin, a long-time advocate for closing corporate tax loopholes, said he is talking with other senators about potential legislation.
Despite a surge in the number of partnerships over the last decade, the IRS did not conduct field audits for 99 percent of these tax-favored businesses from 2007 through 2012, said the preliminary report from the Government Accountability Office, the investigative arm of Congress.
WASHINGTON, April 9- Sikorsky Aircraft said on Wednesday the U.S. Navy's plan to skip orders for 29 MH-60 helicopters in the final year of a five-year contract could undermine the industry's willingness to sign such cost-saving agreements in the future.
The Senate's senior Democrat and Republican reached a tentative agreement to impose modest limits on the filibuster, the delaying tactic that minority parties have long used to kill legislation and was immortalized in the film "Mr. Smith Goes to Washington."
WASHINGTON, Oct 25- Two influential U.S. senators on Thursday urged regulators to resolve any differences and finish writing a controversial ban on proprietary trading known as the Volcker rule.
The FMHR traders discuss Senator Carl Levin's remarks on JPMorgan's losses and whether investors should buy Las Vegas Sands on its dip. Michael Binetti, UBS analyst, also weighs in on which retail stocks are a 'buy' or a 'sell.'
Senator Carl Levin, (D-MI), a co-author of the Volcker Rule, discusses his understanding of JPMorgan's $2 billion trading loss, with CNBC's John Harwood.
Should the U.S. be doing business with countries that are rich in resources — and friendly —but accused of corruption and human rights violations?
Shielding assets from the tax man or from overly inquisitive regulators is a time-honored strategy for the wealthy. Some turn to secretive financial havens like Switzerland or the Cayman Islands. Or there’s always Fernley, Nevada.
During his testimony before the British Parliament ran attempt was made to hit Rupert Murdoch, with a pie. So, which other public figures have been hit by pies?
Are hedge funds paying their fair share of taxes? One powerful senator doesn't believe they are giving Uncle Sam his fair share. John Carney, CNBC.com frames the debate.
Carl Levin, chairman of the Senate investigative subcommittee, said there was “real hope” law enforcement authorities would act on his panel’s report accusing Goldman Sachs of misleading investors and Congress, the FT reports.