After months of discussions and no action, U.S. Treasury Secretary Jacob Lew on Monday announced several new rules to make it more difficult for U.S. companies to participate in inversions, where they purchase smaller international competitors and shift their tax domiciles abroad to save on taxes, The New York Times reports.
The rules are designed to slow inversions by limiting the number of companies that can participate in them and by stopping those companies from partaking in certain transactions that will allow them to save money. They include a ban on loans that give companies access to foreign money without paying U.S. taxes.
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