McDonald’s is to leave London for Geneva, joining the growing ranks of US companies moving their European headquarters to take advantage of preferential intellectual property tax laws.One pound pure beef patty, Brandy sauce, bacon, cheese, mayo, on a William Tell bun. Served with a six pack of your choice.
The fast-food group, which will open its head office in the Swiss city in the autumn, said the move had been almost a year in the planning.
The Swiss tax regime, particularly for intellectual property, has become increasingly attractive for foreign companies, particularly the regional European headquarters of US multinationals.
Kraft, Procter & Gamble, Google, Electronic Arts and Yahoo have switched from the UK to Switzerland in recent years, while Informa, the UK publisher, is changing its tax domicile to the country.
So much for the appetizer. For the main course Lance recommends...
(H.T. Don Surber.)