Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

McDonald's quits London for Geneva over tax concerns
The Telegraph ^ | 7/11/2009 | Amy Wilson

Posted on 07/11/2009 10:28:34 PM PDT by bruinbirdman

McDonald's, the fast food giant, will join the ranks of companies quitting the UK when it moves its European headquarters to Geneva later this year.

Senior executives, including Denis Hennequin, president of McDonald's operations in Europe, will be based there.

The US company, which opened its first restaurant in London in 1974, joins other large US corporations that have based their European operations in Switzerland, including Kraft, Procter & Gamble, Colgate Palmolive and Yahoo. Google also chose Zurich for its European headquarters, despite having a large office in the UK capital.

McDonald's said the move "enables us to conduct the strategic management of key international intellectual property rights, including the licensing of those rights to our franchisees in Europe, from Switzerland".

The company stressed it expected its annual tax rate to remain between 29pc and 31pc.

Changes to the taxation of foreign profits linked to intellectual property rights such as patents and trademarks, announced in this year's Budget, led publishing company Informa to move its tax residency to Switzerland earlier this year.

The company has said it would end up paying twice, because of a UK tax on dividends from intellectual property rights abroad.

Home-grown UK companies have also upped sticks in recent years, in search of more favourable tax regimes. The list includes Regus, the temporary office supplier, which has moved to Luxembourg, advertising giant WPP and pharmaceuticals company Shire which are both relocating their headquarters to Ireland, and Brit Insurance, which plans to move to the Netherlands. Investment company Henderson set up a new parent company in Ireland to pay less tax.

McDonald's UK business will continue to be run from London, headed by Steve Easterbrook.

The company's European business has grown faster than the core US division in recent years and is now its

(Excerpt) Read more at telegraph.co.uk ...


TOPICS: Business/Economy; Crime/Corruption; Government; News/Current Events; United Kingdom
KEYWORDS: goinggalt; mcdonalds; taxes; uk

1 posted on 07/11/2009 10:28:34 PM PDT by bruinbirdman
[ Post Reply | Private Reply | View Replies]

To: bruinbirdman

wow. I am sure the UK will respond with even higher taxes


2 posted on 07/11/2009 10:31:09 PM PDT by GeronL ( Patriotic Insurrectionist at http://tyrannysentinel.blogspot.com)
[ Post Reply | Private Reply | To 1 | View Replies]

To: bruinbirdman

This damn country owned the friggin planet a 100 years ago and now has all the productivity of Los Angeles County.


3 posted on 07/11/2009 10:34:10 PM PDT by Extremely Extreme Extremist ("President Obama, your agenda is not new, it's not change, and it's not hope" - Rush Limbaugh 02/28)
[ Post Reply | Private Reply | To 1 | View Replies]

To: GeronL

They have to raise taxes to make up for the losses. Government never declines, only grows.


4 posted on 07/11/2009 10:34:25 PM PDT by rawhide
[ Post Reply | Private Reply | To 2 | View Replies]

To: rawhide

Then they should tax all income at 90% and then have a 10% sales tax... oh... I think London already does


5 posted on 07/11/2009 10:49:10 PM PDT by GeronL ( Patriotic Insurrectionist at http://tyrannysentinel.blogspot.com)
[ Post Reply | Private Reply | To 4 | View Replies]

To: bruinbirdman

hypocrite companies esp google, who support socialism


6 posted on 07/11/2009 10:50:00 PM PDT by 4rcane
[ Post Reply | Private Reply | To 1 | View Replies]

To: Extremely Extreme Extremist

They lost their best and brightest in two world wars.
They sent them over the top into machine guns.


7 posted on 07/11/2009 10:57:37 PM PDT by rahbert ("...but Rush....but Rush...")
[ Post Reply | Private Reply | To 3 | View Replies]

To: GeronL

“There’s one for you, 19 for me.”


8 posted on 07/11/2009 10:59:13 PM PDT by DennisR (Look around - God gives countless, indisputable, and unambiguous clues that He does, indeed, exist.)
[ Post Reply | Private Reply | To 5 | View Replies]

To: bruinbirdman

Rumor has it though that Hamburglar will remain in London due to Swiss laws prohibiting the wearing of any mask “not of the ski variety” in public. Ronald is supposedly being transferred to Amsterdam at his request.

parsy, who is guessing Ronald is like a pot head, maybe? (You know the long hair, lack of a meaningful job, and slovenly appearance.)


9 posted on 07/11/2009 11:01:16 PM PDT by parsifal ("Knock and ye shall receive!" (The Bible, somewhere.))
[ Post Reply | Private Reply | To 1 | View Replies]

To: bruinbirdman

The answer to it all is the Fair Tax.


10 posted on 07/11/2009 11:13:10 PM PDT by Bronzy
[ Post Reply | Private Reply | To 1 | View Replies]

To: bruinbirdman

Will McDonalds celebrate the move with a special Swiss cheeseburger?


11 posted on 07/11/2009 11:17:44 PM PDT by HiTech RedNeck (The Democrat Party: a criminal organization masquerading as a political party)
[ Post Reply | Private Reply | To 1 | View Replies]

To: parsifal
(You know the long hair, lack of a meaningful job, and slovenly appearance.)

I think you might want to reconsider your statement: youtube link

12 posted on 07/11/2009 11:18:18 PM PDT by rawhide
[ Post Reply | Private Reply | To 9 | View Replies]

To: rawhide

LOL Ms. Ronald McDonald looks a lot like Ann Coulter


13 posted on 07/11/2009 11:24:24 PM PDT by HiTech RedNeck (The Democrat Party: a criminal organization masquerading as a political party)
[ Post Reply | Private Reply | To 12 | View Replies]

To: rawhide

RONALD HAD A SEX CHANGE OPERATION???? I’m not eating there again. What’s the Big Mac, now, The Big Megan, or something?

parsy, who has seen it all, now.


14 posted on 07/11/2009 11:25:56 PM PDT by parsifal ("Knock and ye shall receive!" (The Bible, somewhere.))
[ Post Reply | Private Reply | To 12 | View Replies]

To: bruinbirdman

bookmark


15 posted on 07/12/2009 12:08:33 AM PDT by GOP Poet
[ Post Reply | Private Reply | To 1 | View Replies]

To: parsifal

No silly. That’s Ronald’s wife.


16 posted on 07/12/2009 12:30:08 AM PDT by HiTech RedNeck (The Democrat Party: a criminal organization masquerading as a political party)
[ Post Reply | Private Reply | To 14 | View Replies]

To: rahbert

rahbert wrote:

They lost their best and brightest in two world wars.
They sent them over the top into machine guns.


I think I saw this on the military channel.
i couldn’t believe it.


17 posted on 07/12/2009 1:38:42 AM PDT by 1FASTGLOCK45 (FreeRepublic: More fun than watching Dem'Rats drown like Turkeys in the rain! ! !)
[ Post Reply | Private Reply | To 7 | View Replies]

To: rahbert

rahbert wrote:

They lost their best and brightest in two world wars.
They sent them over the top into machine guns.


I think I saw this on the military channel.
i couldn’t believe it.


18 posted on 07/12/2009 1:39:08 AM PDT by 1FASTGLOCK45 (FreeRepublic: More fun than watching Dem'Rats drown like Turkeys in the rain! ! !)
[ Post Reply | Private Reply | To 7 | View Replies]

To: Extremely Extreme Extremist
This damn country owned the friggin planet a 100 years ago and now has all the productivity of Los Angeles County.

The miracle of socialism!

19 posted on 07/12/2009 1:58:04 AM PDT by Trailerpark Badass (Happiness is a choice!)
[ Post Reply | Private Reply | To 3 | View Replies]

To: Trailerpark Badass
While US corporations base their North American operations in Canada.

Watch the moving vans head north to Canada thanks to the change from Capitalism to Socialism south of the border.

20 posted on 07/12/2009 2:11:53 AM PDT by TYVets
[ Post Reply | Private Reply | To 19 | View Replies]

To: parsifal; HiTech RedNeck

21 posted on 07/12/2009 2:32:35 AM PDT by rawhide
[ Post Reply | Private Reply | To 14 | View Replies]

To: parsifal; HiTech RedNeck

22 posted on 07/12/2009 2:36:58 AM PDT by rawhide
[ Post Reply | Private Reply | To 14 | View Replies]

To: HiTech RedNeck
Will McDonalds celebrate the move with a special Swiss cheeseburger?

I hope so. I prefer swiss cheese.

23 posted on 07/12/2009 4:08:54 AM PDT by reg45 (Be calm everyone. The idiot children are in charge!)
[ Post Reply | Private Reply | To 11 | View Replies]

To: bruinbirdman
By tomorrow, some MSM talking head will be explaining to us (with a straight face) how this proves that taxes aren't high enough in the U.S.
24 posted on 07/12/2009 4:48:06 AM PDT by Red Dog #1
[ Post Reply | Private Reply | To 1 | View Replies]

To: bruinbirdman

Unfortunately Nu Labour can cause even more damage to the UK for another year.


25 posted on 07/12/2009 5:11:18 AM PDT by C19fan
[ Post Reply | Private Reply | To 1 | View Replies]

To: C19fan

It is going to get crowded in Switzerland. Geneva isn’t that big and there were already a lot of European or Overseas HQ’s there. I expect more companies will move their domcile to Switzerland as well.
We lived there for five years a loved it..had a chance to stay indefinitely and passed it up. I sort of regret it.


26 posted on 07/12/2009 6:50:49 AM PDT by Oldexpat
[ Post Reply | Private Reply | To 25 | View Replies]

To: rahbert

“They lost their best and brightest in two world wars.
They sent them over the top into machine guns.”

And then taxed the orphans and widows to death.


27 posted on 07/12/2009 7:48:52 AM PDT by 2001convSVT ("Only Property Owners that pay taxes should have the right to Vote")
[ Post Reply | Private Reply | To 7 | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson