Layla Asali Discusses Possible Impact of Tax Proposals in Law360
"Dems' Tax Agenda Raises Prospects of Inversion Rush, Pros Say"
Layla Asali discussed how proposals from President Biden to increase taxes on the foreign income of U.S. companies and prevent tax avoidance could change incentives in cross-border mergers and acquisitions, during a panel at the American Bar Association, International Bar Association, and International Fiscal Association's annual conference on U.S. and European tax trends, held online. In a discussion regarding the potential incentive to undertake inversions, Asali noted that the base erosion and anti-abuse tax (BEAT), a provision of the 2017 Tax Cuts and Jobs Act (TCJA), can act as a disincentive for inversions. "If that isn't changed, I think that would really change the calculus for inversions," Asali said.