Ron Burgundy Posted September 15, 2016 Share Posted September 15, 2016 By Jason Lange WASHINGTON (Reuters) - Apple Inc and other U.S. multinationals will face new curbs on tax loopholes under a rule imposed by Washington on Thursday, part of a scramble among governments worldwide to bolster their corporate tax bases. Acting shortly after a European Union grab for billions of dollars in back taxes from Apple, the U.S. Treasury said it was tightening restrictions on companies' use of foreign tax credits to reduce what they owe in U.S. taxes. "We are closing another tax loophole that contributes to the erosion of our tax base," Treasury Assistant Secretary for Tax Policy Mark Mazur said in a statement. View the full article Quote Link to comment Share on other sites More sharing options...
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