Internet giant Yahoo has announced that it is set to transfer its European headquarters from London to Switzerland in an attempt to reduce its corporate tax bill.
The decision to move is surrounded by speculation that the Swiss government has offered Yahoo a yet-to-be confirmed tax break, and the move is expected to be completed within 18 months.
In a statement quoted by AFP last week, the company confirmed the decision, explaining that:
"Yahoo! Europe has begun a programme to relocate its European headquarters to Switzerland."
It continued: "This decision is part of our ongoing international business strategy to increase competitiveness, deliver financial results, performance and efficiencies."
The transfer of its European corporate HQ is expected to involve 5% of European staff. A presence in London will be maintained, however, the firm has announced.
A comprehensive report in our Intelligence Report series looking at offshore and onshore corporate structures and their tax implications is available in the Lowtax Library at http://www.lowtaxlibrary.com/asp/subs_reports.asp and a description of the report can be seen at http://www.lowtaxlibrary.com/asp/description_report7.asp
Network Tweets
Network BlogsContent
provided by
|
Archive | Resources | Partners | Site Map | Links | Newsletter Archive | Contact | RSS Feeds | About | Syndication | Advertising & Marketing | Recruitment | Terms & Conditions | Privacy & Cookies
Copyright © 2012 - All Rights Reserved - Tax-News.com
IMPORTANT NOTICE: Tax-News.com has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.
Write a comment