Ukrainian Law Blog
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Wednesday, June 6, 2018
The anti-avoidance framework in the USA
Combatting tax avoidance is a constantly evolving process in the United States. Recent regulatory actions include the Section 385 regulations (Treasury Regulation Section 1-385-2), which were issued in final and temporary form. These regulations are designed to curb inversion transactions in which US multinationals acquire a foreign company and then enter into a series of transactions to have the newly acquired foreign company become the parent of the multinational group, with the tax of the US group being reduced through deductible interest payments. The Section 385 regulations are intended to reduce the tax advantages of inversion transactions. In July 2017 the US Treasury announced that the effective date of these regulations will be delayed until 2019.
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