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Trump administration to retain Obama-era rules curbing corporate inversions

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Trump administration to retain Obama-era rules curbing corporate inversions

U.S. President Donald Trump's administration will preserve for now tax regulations designed by the previous administration to curb corporate inversions, the Department of the Treasury said.

"Treasury plans to retain the distribution regulations under Section 385 pending enactment of tax reform," the Treasury said in a statement, explaining that the rules are "necessary to safeguard against earnings stripping," a corporate tax-reduction tactic.

The agency said it would be "irresponsible" to revoke the distribution regulations before the enactment of tax reform, which would eliminate the need for such rules. The department also said it is considering ways to simplify the rules and ease compliance.