Editor Desk
Sep 15, 20161 min
Apple Inc and other U.S. multinationals will face new curbs on tax loopholes under a rule imposed by Washington on Thursday, part of a scramble among governments worldwide to bolster their corporate tax bases.Acting shortly after a European Union grab for billions of dollars in back taxes from Apple, the U.S. Treasury said it was tightening restrictions on companies' use of foreign tax credits to reduce what they owe in U.S. taxes.
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