Trade Asia Homepage
Trade Events Center promotes your trade shows to worldwide
 
 
Show Name, Acronym or Partial Name   Product Keywords
Industry Country Year Month
 
 
Obama accuses firms of "cherry-picking" over tax rules
2014/7/25
US President Barack Obama has urged lawmakers to end a tax loophole that allows US companies to avoid paying US corporate taxes.

He accused firms of "cherry picking" the rules, by moving their tax base overseas, while keeping most of their business in the US.

Know as inversion, nine companies so far this year have used the practice.

"My attitude is I don't care if it's legal - it's wrong," the president said in a speech in Los Angeles.

The potential savings of inversion were widely seen as part of the reason why US pharmaceuticals firm Pfizer attempted to buy Britain's AstraZeneca earlier this year.

That deal stirred up controversy with critics concerned that the company would cut back on UK research and development.

'Stop rewarding'
President Obama also called for "economic patriotism".

"Economic patriotism says it's a good thing when we close wasteful tax loopholes and invest in education, and invest in job training that helps the economy for everybody.

"Let's stop rewarding companies that ship jobs overseas; give tax breaks to companies that are bringing jobs back to the United States," he said.

Democrats in the US Congress have put forward a proposal that would make inversion much more difficult and the president called on Republicans to support that effort.

US companies have called on the government to lower and reform corporate taxes, which would make it less attractive for them to move their tax base overseas.


News Source : BBC News

Contacts
Contact :
Company : BBC News
Country : United States
Telephone :
Email :

 
Trade Event Updates SEE ALL  
6th Annual Retail World Asia 2 ...
Retail World Asia to introduce a new co-located event: Online Retail World Asia for the regions gro ...
 
Dongguan China Shoes.China Sho ...
The Best Platform to Explore Marketing Channels and Brand Promotion The 13th Dongguan China Shoes . ...
22nd International Stationery ...
Gathering the Largest No. of Exhibitors, ISOT 2011 will be Held as it is Scheduled! ...
 
YIWU 2011 ~ The 12th China (Yi ...
YIWU H&G 2011??A Professional Knitting and Hosiery Event ...
 
Industrial News SEE ALL  
coer board paper
 
coer board paper
TIM Expo Shanghai, Insulation and Waterproof for Sustainable Building
 
Vasthi Dew Point Meter
AsiaInfo Announces Cloud Core Carrier Grade BSS
 
2016 China Guangzhou Glasstec Expo
motorcycle
 
Cosmo Films Announces New Business Head for East Asia
 
Member ID
Password
Register to submit trade events
Sponsor banner ad,
Newsletter e-blasting,
& other advertisements.
Contact for details
Trade Event Reports
The National Hardware Show 2010
TaiSPO 2010
Giftionery Taipei 2010
 
 
 
 
 
Bookmark and Share
 
Featured Products


Home - 中文版

About TradeAsia  |   TradeAsia Taiwan  |   TradeAsia China  |   Terms of Service  |   Privacy Policy  |   Advertise  |   Link Exchange  |   Help Center  |   Contact Us
Copyright (c) 2018 TradeAsia. All Rights Reserved.