Burger King to move to Canada to avoid taxes

[Pstreet1 Senior Member Find all posts View Profile Close Pstreet1]

that's exactly what needs to happen. If government were more business friendly, there would be no reason to leave..

So true. Other governments seem to be managing quite nicely with a lower corporate tax. Our politicians, however, can think of nothing to do other than raise taxes, even if it costs them in the long run.

[tonyg Goomba & Super Moderator Find all posts View Profile Close tonyg]

Actually it will cost you or your descendants who will end up paying taxes.

[Pstreet1 Senior Member Find all posts View Profile Close Pstreet1]

Repeat: "Other governments seem to be managing quite nicely with a lower corporate tax." They seem to be aware that more corporations paying lower tax rates equals more revenue than fewer corporations paying higher tax rates.

[JWC Super Moderator Find all posts View Profile Close JWC]

BK is owned by 3G Capital which is a Brazilian investment company so it is not even an American company.

[easyrider Senior Member Find all posts View Profile Close easyrider]

Good point John. I wonder why the media got so uptight with the BK news.

[JWC Super Moderator Find all posts View Profile Close JWC]

Good point John. I wonder why the media got so uptight with the BK news.

Probably because BBK's headquarters is in Miami FL which is what is being moved to Canada.

[Pstreet1 Senior Member Find all posts View Profile Close Pstreet1]

I wonder if those who are rabid about moves of this sort actually understand that the Burger King outlets in the U.S. will continue to pay taxes exactly as they have been doing. Under U.S. law, Burger King corporate has to pay U.S. taxes on what their outlets in France/Yemen/Timbuckto earn, even though those outlets are already paying taxes in France/Yemen/Timbuckto. If they move corporate headquarters to Canada, that won't be the case. Canada doesn't require Burger King to pay Canadian taxes on what their outlets in France/Yemen/Timbuckto earn.

[mshatty Super Moderator Find all posts View Profile Close mshatty]

My hope is that they will open lots of Tim Horton's in the US (Houston area particularly).

[barndweller Moderator Find all posts View Profile Close barndweller]

Probably because BBK's headquarters is in Miami FL which is what is being moved to Canada.

Miami, FL is moving to Canada? Wow! Maybe the property owner's hurricane insurance will be cheaper now. And we won't have to provide federal tax dollars for the damage caused by rising sea levels. Woo hoo!

[T. R. Oglodyte Moderator Find all posts View Profile Close T. R. Oglodyte]

Imagine the gall of relocating for the purpose of reducing taxes!!! This sets a really bad example. If Burger King can get away with this, the next thing you know even individual citizens will start to pull up stakes and relocate to areas with lower taxes.

[easyrider Senior Member Find all posts View Profile Close easyrider]

I thought that Americans living abroad are subject to US income tax on all income earned in other countries. And now with the new international banking laws being applied to Americans, most banks in other countries have dropped the average American citizens bank accounts.

[Pstreet1 Senior Member Find all posts View Profile Close Pstreet1]

They are subject to American income tax laws, but not state tax laws, and that cuts the total tax burden. For retired Americans living out of the U.S., of course, most are receiving income from the U.S. as pension funds, social security, etc., so those funds would always be subject to American tax.

[Carolinian Super Moderator Find all posts View Profile Close Carolinian]

Why not lower the tax rate ? The USA invented DTAs and now that they are working against them they want to change the rules .The UK has the same problem ... "Britannia waives the Rules " or did.
G

As I recall, Ireland has a lower corporate tax rate than most of Europe, and that has been a big plus for your economy. Sweden lowering its corporate tax rate also has helped its economy take off.

[Ireland's Call Senior Member Find all posts View Profile Close Ireland's Call]

Indeed our corporate tax rate is 12.5 percent and companies attracted here employ huge numbers of workers who of course have to pay income tax , vat etc Apple ,Microsoft ,Intel ,Merck et alia
We have had a low corporate tax rate since the 1950s and despite our banking crash we are are moving back up the ladder and are A rated by the rating agencies. All without the need to increase our tax rate
G

[Pstreet1 Senior Member Find all posts View Profile Close Pstreet1]

That appears to speak well for "more corporations paying a lower tax=more revenue than fewer corporations paying a higher tax."

If corporations don't want to be in the U.S., there's a problem in the U.S. If some we already have want to leave, what makes anyone think more are likely to incorporate here?