Obama administration questions TP law
June 01, 2011
Sophie Ashley - TPW
Two recent cases in the US, Medtronic and Guidant, highlight the Obama administration’s budget proposals to clarify the law regarding foreign intangible assets.
Medtronic and Guidant are examples of companies that restructured to comply with IRS tax incentives in Puerto Rico. Changes to the incentives threw up a question of law however. It is this law issue, concerning the treatment of foreign company intangibles, the administration wishes to clarify.
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