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 and/or avoidance:
“To tax and to please, no more than to love and to be wise, is not given to men.”
—Edmund Burke (1729–1797)
“Real good breeding, as the people have it here, is one of the finest things now going in the world. The careful avoidance of all discussion, the swift hopping from topic to topic, does not agree with me; but the graceful style they do it with is beyond that of minuets!”
—Thomas Carlyle (1795–1881)