US Companies flock to Switzerland

[ironhorsedriver]

Reuters is reporting large numbers of US companies trying to incorporate in Switzerland. Most, to start with appear to be energy companies, but others are sure to follow. According to Rueters, they are fleeing Obama's plans for much higher corporate taxes. The man doesn't have a clue.

[bijou]

http://uk.reuters.com/article/oilRpt/idUKN1235157820090313

NEW YORK, March 12 (Reuters) - Shareholders of Tyco International Ltd (TYC.N) on Thursday approved a proposal to reincorporate the multinational conglomerate in Switzerland from Bermuda, paving the way for a change of domicile that the company said would take place as soon as possible.

Tyco has said the move would provide economic and operational benefits to the company, and enable it to maintain a competitive tax rate. But it could make the company ineligible for inclusion in the Standard & Poor's 500 index, and in Russell U.S. indexes, forcing funds tied to the indexes to sell their holdings.

Tyco's move is part of an exodus of companies from Bermuda, amid concerns that changes in U.S. law will affect treatment of companies incorporated in so-called tax havens. ...

Here's some additional info. Still if you have only one appointee working in the Treasury stuff like this will happen.

[DumbAss Tanker]

http://uk.reuters.com/article/oilRpt/idUKN1235157820090313

Here's some additional info. Still if you have only one appointee working in the Treasury stuff like this will happen.

I'm not sure that more appointees would necessarily make this better, if anything I should think it would only increase the tempo at which they try to plunder the Caribbean off-shores.