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-   -   What do you think of companies that move out of the US simply to avoid taxes? (http://www.v7n.com/forums/controversial-social-issues/372258-what-do-you-think-companies-move-out-us-simply-avoid-taxes.html)

ScriptMan 08-25-2014 11:51 AM

What do you think of companies that move out of the US simply to avoid taxes?
 
This post is prompted by this news story, http://www.reuters.com/article/2014/...essNews&rpc=76 . Burger King is seriously considering moving to Canada to avoid paying US taxes.

I'm not sure and would love to know what you think. I personally boycott companies who pull this crap. I switched underwear brands when Fruit of the Loom move out of the country and I'm sure I can find another place or two to buy a burger.

G10 08-25-2014 07:08 PM

It's a business decision and if it means saving millions then it makes financial sense.

It is easy to boycott some companies that do this but when even bigger pharmaceutical firms do this, they may be harder to boycott. Remember that Pfizer has been (and still is) trying to buy Astrazeneca and if they did and moved their head office to the UK, they would be paying our corporate tax rates which is a serious saving of tens of millions to a firm like this. Granted, this goes into management pockets, shareholders but also ploughed back into drug research.

I am not saying that I agree to this, just saying that if we extract emotions from the situation, it then makes financial business sense to do this.

Business decisions made with the heart is a dangerous game, but business decisions made with the brain (no emotions attached) usually make more sense.

Btw, this happens in the UK also as we have the same problem. If we were the CEO of a multi-billion dollar company and we could save the company tens of millions per year, we may (or may not) do the same thing.

drastic 08-25-2014 08:08 PM

why not save yourself money?

__Web__ 08-30-2014 08:14 PM

Everyone wants to save money so, the problem is not with the companies but with the taxes.

Why to pay $100 for a product that you can buy from another store at $1?

gracemary 11-03-2014 11:51 AM

The essence of business is making profit. Income minus expenses is profit. Taxes is one of those expenses which eat some of the profit. Companies move out of the US simply because corporate taxes is almost more than 35% of net income, If Canada for example levies just 25% in net income of a company, then surely, companies will move to Canada. Tax avoidance is lawful, tax evasion is not lawful.Solution perhaps is for the government to lessen corporate taxes at par with those countries where US companies migrate.

TechBusiness 11-06-2014 06:14 AM

If it is within the law, I don't have problems when companies go to some sort of tax-heaven to save on their taxes. Countries should make it more easy and attractive for businesses instead of making new rules, laws and let them pay high taxes.

Przemekny 11-13-2014 01:21 AM

The big companies make money in US so they should pay taxes in US. Fact is the taxes are too high that is way the big companies are looking for ways to avoid them. Government should make the taxes lower so that can attract more businesses which will pay taxes and benefit everyone in the long run.

Mia 12-29-2014 11:24 AM

Quote:

Originally Posted by ScriptMan (Post 2138982)
This post is prompted by this news story, http://www.reuters.com/article/2014/...essNews&rpc=76 . Burger King is seriously considering moving to Canada to avoid paying US taxes.

I'm not sure and would love to know what you think. I personally boycott companies who pull this crap. I switched underwear brands when Fruit of the Loom move out of the country and I'm sure I can find another place or two to buy a burger.

The thing to keep in mind with Burger King is, they are NOT an American company. They are owned British company.

uros1978 12-29-2014 12:11 PM

It is a business decision that is "unfair" or "unethical" IMO.

Mia 12-29-2014 12:23 PM

Quote:

Originally Posted by uros1978 (Post 2164373)
It is a business decision that is "unfair" or "unethical" IMO.

Not sure how being owned by an overseas company is unethical. I think the entire truth needs to be told about the Burger King deal. They are not, nor have they been an American company for at least he last 3 decades.

Saying that they are moving to Canada to escape US tax is not telling the whole story. They are a Canadian company. They are not moving anywhere. They are owned by Restaurant Brands, a Canadian company.

While I find the OP's question interesting, I think using BK as an example is a bad one given the misinformation with regard to the ownership of BK.

towerwindowcleaning 01-15-2015 12:33 AM

I think the whole tax thing is pretty crappy. I mean you take a chance work hard be successful and then you have to pay for that right to try and be someone. Maybe I'm looking at it from a point of view of a small business but I give the government more than they give me

rafeymahmud 02-01-2015 06:41 AM

It is responsibility of any CEO to maximize profits in the long run and keep company growing. Sometimes it makes sense to save on taxes, sometimes it does not. Nothing comes for free, where ever the company moves to, there are many other considerations. Government taxing, is like any other business, there is supply and demand. A Government has luxury to tax more if their city/state is more desirable for business, they tax less to give incentive to businesses to relocate there. Taxes are a small part of the overall business strategy.

Matt PII 02-01-2015 10:39 AM

It may sound "sketchy" for a company to move out of the US to build it's company, but ultimately it's the board of directors decision and I have no problem with somebody trying to avoid taxes, nobody wants to pay that hehe

kurbanali 02-28-2015 12:59 PM

Quote:

Originally Posted by Matt PII (Post 2171039)
It may sound "sketchy" for a company to move out of the US to build it's company, but ultimately it's the board of directors decision and I have no problem with somebody trying to avoid taxes, nobody wants to pay that hehe

yes really no body wants to pay tax.

kingmanu 03-06-2015 06:41 PM

Why is unfair and unethical ? Why i should pay more taxes just because a country decide that my work should be taxed more ?

These companies are doing the best to get the maximum profit and if the countries want to have more homeland businesses should make taxes more attractive. Is that simple

imbilly 03-09-2015 02:41 PM

They need to have their assets seized; their board of directors jailed for economic treason, stripped of their citizenship and deported along with their families when their jail sentence is over.

If they want to get an early start on their new life, I'd be happy to allow for the outsourcing of their incarceration to the third world country of their choice.

ScriptMan 03-09-2015 04:16 PM

I think maybe many who have read this thread have missed the points.

This is a company paying minimum wage, offering no benefits to hourly workers, charging the highest price the market will bear and they want to avoid paying taxes on their earnings from all of that.

To heck with em'. There are better burgers out there.

Rhino 04-28-2015 12:44 AM

This is the fault of the U.S. They have bloated the government to such a size that a requires such a large amount of taxes from everyone to keep it running and they have to charge more. Why would these companies stay when they are saving millions of dollars to move? As crappy as it is I can't say I don't side with the corporations. Some of those savings keep jobs for people and put food on the table.

HNC-Duy 06-17-2015 03:47 AM

Quote:

Originally Posted by ScriptMan (Post 2177221)
I think maybe many who have read this thread have missed the points.

This is a company paying minimum wage, offering no benefits to hourly workers, charging the highest price the market will bear and they want to avoid paying taxes on their earnings from all of that.

To heck with em'. There are better burgers out there.

may be you're right. But employees all over the world suffer the same issues

Commercial Realtor 07-19-2015 12:12 PM

Yes. We have high taxes compared to most other countries. Lower taxes = more jobs and more tax revenue here at home.


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