Moving against tax avoidance by corporations, the Obama administration took several actions on Monday to curb  'inversion' deals that allow companies to escape high U.S. taxes by reincorporating abroad. The Treasury Department announced new rules, effective immediately, that will reduce the tax benefits available to companies that have inverted, while also making new inversions more difficult to do and less potentially rewarding. Because they took effect on Monday, the new rules might raise issues for some of a handful of companies that have agreed to do inversions, but have not yet completed them. Fast-food chain Burger King Worldwide Inc is in the midst of inverting to Canada in a deal with coffee-and-donuts vendor Tim Hortons Inc. A spokeswoman for Burger King said the company declined to comment.
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Common scheme sees US companies merging with foreign corporations so their taxes can be calculated at another country's lower rate
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US Treasury loses billions every year from these deals
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Burger King's plan to merge with the Canadian chain Tim Horton's sparked urgency in the White House
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Investors expect companies to minimize their tax bills but the White House now expects them to stay headquartered in the US regardless of the cost
A key target of @placeholder's actions is foreign profits held