Tax Avoidance
In 2008, in reaction to new taxation measures announced by the Labour Party in the treatment of royalties on patents, the company moved its tax domicile to Dublin, Ireland. Effected through the creation of a new holding company in St Helier, Jersey in the Channel Islands, it will pay reduced tax on global earnings, where royalties on patents lodged in Ireland are tax free.
Read more about this topic: Shire Plc
Famous quotes containing the words tax avoidance, tax and/or avoidance:
“Tax avoidance means that you hire a $250,000-fee lawyer, and he changes the word ‘evasion’ into the word ‘avoidance.’”
—Franklin D. Roosevelt (1882–1945)
“As a Tax-Paying Citizen of the United States I am entitled to a voice in Governmental affairs.... Having paid this unlawful Tax under written Protest for forty years, I am entitled to receive from the Treasury of “Uncle Sam” the full amount of both Principal and Interest.”
—Susan Pecker Fowler (1823–1911)
“The American Dream, the idea of the happy ending, is an avoidance of responsibility and commitment.”
—Jill Robinson (b. 1936)