Tax Inversions And Relocation Allowances

Tax Inversions And Relocation Allowances by Footnoted

As most people know by now, the Treasury announced some pretty significant rules late yesterday meant to curb so-called tax inversion deals. And a short time ago, President Obama praised the move in a speech at the White House.

For us here at footnoted, that this new rule coincides with proxy season seems particularly interesting. That’s because a number of so-called tax inversion companies are disclosing hefty allowances for their top executives to live overseas in places like Ireland and Switzerland. Transocean Ltd., for example, which we highlighted a few weeks ago for its $10m footnote, spent over $1.6 million last year on housing allowances and related expenses for its...