Overview
Bloomberg BNA’s Daily Tax Report quoted Phil West in an April 24 article titled “Trump Order Sparks Debate Over Inversions, Debt-Equity Rules.” The article discusses the debate over the executive order (EO) that President Trump signed on April 21. The EO requires the Treasury Department to examine “significant” rules from the final year of President Obama’s term and recommend whether they should be modified or repealed if they are too burdensome or complex. Business groups have urged the Treasury to repeal section 385.
Mr. West, chair of Steptoe and a former Treasury international tax counsel, says: “This EO is not surprising. It is highly likely that the resistance to the 385 regulations has reached the new Treasury and White House. And I would think they would be very receptive to the message.”
The full article can be read at Bloomberg BNA.
