U.S. Congressman Lloyd Doggett D-TX has introduced the Corporate EXIT Fairness Act. The legislation would impose an exit tax on inverting corporations before being recognized as reincorporated offshore for tax purposes. The exit tax would be equal to the greater of: The tax owed on accumulated deferred foreign income of the corporation's controlled foreign corporations (CFC); or The tax on the appreciation in value of the corporation's CFCs The legislation is similar to the Pay What You Owe Before You Go Act introduced in the Senate in March ({News-2016-03-11/P/3- previous coverage}), but also includes additional measures to apply the exit...