--- title: Treasury Introduces Plan To Block Corporate Tax Inversion | TIME description: After pressure from the Obama administration and others, the U.S. Treasury Department has finally taken steps to address corporate tax inversion — a hot button issue for 2014. canonical: https://time.com/video/afa1HDB9/ og:title: Treasury Introduces Plan To Block Corporate Tax Inversion og:description: After pressure from the Obama administration and others, the U.S. Treasury Department has finally taken steps to address corporate tax inversion — a hot button issue for 2014. og:url: https://time.com/video/afa1HDB9/ og:image: https://cdn.jwplayer.com/v2/media/afa1HDB9/poster.jpg?width=720 og:type: video.other twitter:card: summary_large_image twitter:title: Treasury Introduces Plan To Block Corporate Tax Inversion twitter:description: After pressure from the Obama administration and others, the U.S. Treasury Department has finally taken steps to address corporate tax inversion — a hot button issue for 2014. twitter:image: https://cdn.jwplayer.com/v2/media/afa1HDB9/poster.jpg?width=720 --- # Treasury Introduces Plan To Block Corporate Tax Inversion > Sponsored content. 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They are at time.com/newsletters and are separate from a paid subscription. ## Video: Treasury Introduces Plan To Block Corporate Tax Inversion [Watch (HLS stream): Treasury Introduces Plan To Block Corporate Tax Inversion](https://cdn.jwplayer.com/manifests/afa1HDB9.m3u8) (1:37)  _Published 2014-09-23. After pressure from the Obama administration and others, the U.S. Treasury Department has finally taken steps to address corporate tax inversion — a hot button issue for 2014._ --- Jul 27, 2023 5:17 PM UTC --- ## More From This Series [All Videos](https://time.com/video/) [U.K.'s New Treasury Chief Scraps Nearly All Government Tax Cut Plans](/video/2kefXVJc/) ### U.K.'s New Treasury Chief Scraps Nearly All Government Tax Cut Plans [President Trump and Republicans Are Planning Big Tax Cuts for the Rich and Corporations](/video/rOEBbcV3/) ### President Trump and Republicans Are Planning Big Tax Cuts for the Rich and Corporations [Inversion: How some major U.S. companies are dodging taxes](/video/scKZd7jN/) ### Inversion: How some major U.S. companies are dodging taxes --- ## Transcript After pressure from the Obama administration and others, the US Treasury department is finally taking steps to address corporate tax inversion. It's called inversion. Big time companies, not the hardware store down the street, choose to reincorporate in foreign countries that reap major tax [ MUSIC ] breaks To combat the new practice the treasure department has laid out new rules in the tax code meant to make tax inversion less appealing for companies. The treasury department wants to stop hopscotch loans. Companies have to pay U. S. taxes when foreign money comes back to the United States, but hopscotch loans allow that foreign money to be sent as a loan to the new foreign parent company created by the tax. Inversion, thus avoiding US taxes. Also when an American and a foreign company merge, the foreign company must own at least 20 % of the newly formed company. The Treasury has now cut down on some of the tricks US companies use to shrink its. Sized dividend payouts or blow up the foreign company size, passive assets, right before the merger. And according to Treasury Secretary Jacob Lew this is just the beginning. Treasury will continue to review a broad range [ MUSIC ] Range of authorities for further anti- inversion measures as part of our continued work to close loopholes. The United States has one of the highest corporate tax rates int he world at 35 %, while Ireland for example, sits at 12 %, and while the new rules won't effect any deals that have already. Be closed. The colossal merger between American medical tech company Medtronic and Ireland based company Covidien, will be affected by the new regulations. 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