Burger King leaves U.S. 35% corporate tax rate for Canada’s 15% corporate tax rate


WINTERY KNIGHT

Prime Minister Stephen Harper Prime Minister Stephen Harper: all your base are belong to us!

Wow, I really hate Burger King, but this latest move leaves me very confused. Maybe I have to eat there now?

The Chicago Tribune reports on it.

Excerpt:

Canada has become the latest frontier for U.S. companies fleeing the high cost of business, spurred by low corporate taxes and a policy that keeps international earnings out of the clutches of the Internal Revenue Service.

Burger King, the second-largest U.S. burger chain, agreed to acquire Oakville, Ontario-based Tim Hortons on Tuesday for about C$12.5 billion ($11.4 billion) in a deal that creates the world’s third-largest fast-food chain and moves its headquarters in Canada. It’s “not fair” that companies can renounce their U.S. citizenship by filling out paperwork, a White House spokesman said Monday.

The deal for Oakville, Ontario-based Tim Hortons follows Valeant Pharmaceuticals’ merger with Canada’s Biovail in 2010, which…

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