Spike in Corporate Inversions
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In the last decade, 47 corporations have reincorporated overseas to pay lower U.S. taxes through a process known as corporate inversions. From 1983 to 2014, companies from a variety of industries have engaged in inversions, with the number of such transactions increasing significantly since 2009. Legislation to tighten rules and limit inversions could save U.S. taxpayers nearly $20 billion over 10 years.
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Spike in Corporate Inversions
- 1. In last decade, 47 corporations have moved their address overseas to pay less U.S. taxes A Spike in Corporate Inversions * * * * * * * AOE Corporation Alkermes DutchCo Stratasys TE Connectivity Mallinckrodt Pharmaceuticals TIMELINE 1983 •McDermott International Source : CongressionalResearchService * Representscompaniesthatinvertedbetween2009and2014. •Helen ofTroy & •SantaFeInt’l 1999 •White Mountain Ins. •Transocean •PXRE Group •Trenwick •Xoma •Everest Reinsurance •Applied Power •R&BFalcon 2001 •Global Santa Fe Corp. •Foster Wheeler, •Accenture •Global Marine •Noble Corp. •Cooper Industries •Weatherford Int’l •Ingersoll-Rand •PWC Consulting Ltd. 2012 1994 1996 1997 1998 2000 2005 2009 2013 2010 2008 2002 2007 •Star Maritime Acquisition Group •Fluid Media Network •Western Goldfields •Lincoln Gold •Arcade Acquisition Grp •Energy Infrastructure •Ascend Acquisition •Acquisition Grp. •Foster Wheeler •Patch Int’l Inc •Tyco Electric •Hungarian Telephone & Cable Corp. •2020ChinaCapAcquisition •InterAmericaAcquisition •Ideation Acquisition Grp. •VantageEnergyServices • Alyst Acquisition Grp. •Alpha Security •ENSCO Int’l •Plastinum Polymer Tech Corp. •Valient/Biovail 2011 •Alkermes, Inc •Pentair •Rowan Companies •AON •Tronox Inc •Argonaut •Jazz Pharmaceuticals / Azur Pharma •D.E. Master Blenders •Eaton/Cooper •Cadence Pharmaceuticals •Actavis / Warner •Chilcott •Endo Health Solutions •Liberty Global PLC 2014 2004 •GoldReserve •Playstar 29 In the last decade Legislationtotightenrulesto limitinversionswouldsave taxpayersnearly$20billion overtenyears. 47 In 20 years