New U.S, Tax Inversion Note Doesn't Concern Medtronic

Published: Nov 23, 2015

Medical-device company Medtronic PLC said Friday that the Treasury Department’s latest effort to curb the tax benefits of companies moving their headquarters overseas wouldn't “have a material financial impact,” on the company.

Since last year U.S. regulators have cracked down on tax-beneficial corporate migrations known as inversions. On Thursday, the Treasury Department issued its latest notice seeking to limit the benefits that occur when a U.S. company acquires a foreign subsidiary and moves its headquarters overseas seeking to slash its tax bill.

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