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U.S. Tax Law Loophole

Professor Reuven Avi-Yonah"Even before the legislation was unveiled in November, multinationals were planning to convert cash to non-cash assets, although it wasn’t entirely clear what would constitute cash for this purpose."

Professor Reuven Avi-Yonah, in a Reuters article about a loophole in the new U.S. tax law that could allow multinational corporations to avoid paying billions of dollars in taxes on profits held overseas.