Hillary Clinton to set out policy to combat tax inversions

US Democratic presidential candidate Hillary Clinton will unveil proposals to deter US companies from shifting profits overseas, including an “exit tax” to penalise firms that perform so-called tax inversions, a campaign official said.

The exit tax would apply to companies such as Pfizer that move abroad for tax advantages, said the official, who did not want to be named, ahead of tomorrow’s official announcement.

Another major part of Clinton’s plan will be announced tomorrow, when she is due to appear in the first-in-the-nation caucus state of Iowa, the official said.