Debating the plan to prevent tax inversions, Doug Holtz-Eakin, American Action Forum, says the Treasurys plan is worse than doing nothing. Christian Weller, Center for American Progress, explains why he favors inversion regulation.» Read More
DETROIT, Sept 24- The U.S. Treasury last year permitted top executives at General Motors Co and Ally Financial Inc to collect "excessive pay" while those companies were part of a taxpayer-funded government loan program, a special inspector general reported on Wednesday. In April, Treasury said it lost $11.2 billion on the $49.5- billion GM bailout.
The Treasury Department is seeking to reduce the benefits of companies buying foreign firms to switch tax domicile to a country with lower rates, reports CNBC's Eamon Javers.
Following through on a populist appeal from President Barack Obama for a new era of "corporate patriotism," the Treasury Department stepped in Monday with new regulations designed to limit the ability of U.S. firms to seek refuge in lower tax countries.
Administration officials who briefed reporters could not say how many pending inversions might be stopped by the new rules and specifically would not address whether the rules would block one of the most high-profile moves, an effort that Burger King announced in August to acquire Tim Hortons, a Canadian coffee and doughnut chain.
The issue of so-called tax inversions has been a major policy point for President Barack Obama over the past few months.
Democratic Sen. Ron Wyden says some conservatives believe the recent wave of inversions hurts Congress' ability to revamp the tax code.
BEIJING, Sept 16- A signboard at the top of a staircase in the ageing Beijing offices of the National Development and Reform Commission directs lawyers and company officials to numbered conference rooms for antitrust meetings.
BEIJING, Sept 9- China's tough competition policy is souring the mood for foreign investment, a European business lobby said on Tuesday, in the latest report to criticise Chinese regulators over a series of contentious investigations into international firms.
BEIJING, Sept 9- China's tough competition policy is souring the mood for foreign investment, a European business lobby said on Tuesday, in the latest report to criticize Chinese regulators over a series of contentious investigations into international firms.
WASHINGTON- Federal Reserve Board Governor Daniel Tarullo and other banking officials testify before Senate Banking Committee on Wall Street Reform- 1400 GMT. Counselor to the Treasury Secretary Michael Stegman speaks before the 2014 American Mortgage Conference in Raleigh- 1715 GMT.
The White House can help stem inversions, but issue must be addressed by Congress, says Rep. Van Hollen.
Treasury Secretary Jack Lew urged Congress to pass anti-tax inversion legislation, reports CNBC's Eamon Javers.
CNBC's David Faber reports on comments by Treasury Secretary Jack Lew regarding tax inversions.
BEIJING, Sept 3- Companies facing antitrust investigations in China are subject to a host of pressure tactics from regulators, a business lobby said on Wednesday, in the latest report to cite due process concerns over China's anti-monopoly enforcement.
BEIJING, Sept 3- Companies facing antitrust probes in China are subject to a host of pressure tactics from regulators, a business lobby said on Wednesday, in the latest report to cite due process concerns over China's anti-monopoly enforcement.
The American Chamber of Commerce in China is the latest business lobby to air its grievances over a series of investigations scrutinizing at least 30 foreign firms, as China seeks to enforce a 2008 anti-monopoly law.
Qualcomm is one of at least thirty foreign firms to come under scrutiny as China seeks to enforce a 2008 anti-monopoly law- efforts some critics say have unfairly targeted overseas businesses, raising protectionism concerns.
BEIJING, Aug 7- China's recent probes into Microsoft Corp and car companies including Audi and Chrysler have rekindled concerns that Beijing may be using an anti-monopoly law to support domestic firms at the expense of foreign companies.
Lanhee Chen, Hoover Institution research fellow, discuss corporate tax reform and what it means for companies to show "economic patriotism."
*By invoking 1969 law, Obama could bypass Congress- former Treasury official. *Treasury Secretary Lew renews call for urgent action by U.S. Congress.