author_orbitax
Orbitax

Share This Article

Short-Term U.S. Tax Haven Abuse Measure Approved for 2015

12 June 2014

|

Approved Changes

|

United States

On 11 June 2014, Representatives Rosa DeLauro and Lloyd Doggett proposed legislation that was approved by voice vote to amend the Transportation-Housing and Urban Development Appropriations bill by including a ban on contracts from going to corporations reincorporated in tax havens. The ban applies only for fiscal year 2015 for companies originally incorporated in the U.S., but later reincorporated in Bermuda or the Cayman Islands, and for contracts with the Departments of Transportation, and Housing and Urban Development.