US Corporate tax avoidance will face increased scrutiny under plans by president Barack Obama.
The president is proposing that his first budget in 2010 will introduce anti-tax avoidance measures aimed at cutting loopholes that allow business to avoid tax payments domestically and abroad, according to Tax-News.com.
The US Treasury is looking to cut its tax gap of $300bn, and the taxman has already flagged up transfer pricing, withholding taxes and hybrid entities as areas it would focus on in terms of compliance.
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