Obama mulls administrative actions against tax inversion

With it appearing more likely Congress won't soon act on broader tax reform – especially since it's now on a five-week summer vacation – the US Treasury Department on 5 August said it was reviewing a broad range of authorities for possible administrative actions that could limit the ability of companies to engage in so-called tax inversions, a practice in which American firms have been reincorporating abroad through mergers and acquisitions to avoid paying US taxes.