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Will new tax 'inversion' rules hurt San Diego biotechs?

Roger Showley, SAN DIEGO UNION-TRIBUNE

Saturday, April 16, 2016

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photo
Kelly Cunningham
National University System

Answer: Yes

The inevitable consequence of a flawed tax system. The U.S. corporate income tax rate at 35 percent is highest in the developed world and one of the few countries that make companies pay on all their worldwide income. Rather than compel companies to attempt to avoid the tax to be competitive in the world, the better solution would be to revamp the tax code by lowering corporates rates and limiting taxes on foreign profits.