While yesterday was tax day in the United States, the effects of high taxation were felt all around the world. Shire Pharmaceuticals, a FTSE 100 company, has decided to re-incorporate in Ireland for tax reasons.
What does this mean for the UK? Probably not a whole lot in the immediate sense, but as this is likely just part of an overall trend, it is proof that government needs to learn to live with a modicum of thrift. Market forces apply to everything, and just as a consumer will shop at Target if the prices and selection are better than at Wal*Mart, large companies and wealthy individuals with the ability to shop for governments will act similarly.
This is also a lesson that ought to be learned by state governments in the U.S.A.
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Tax » Tax Day Around the World… // April 16, 2008 at 7:50 am
[...] Life, Liberty and Property wrote an interesting post today on Tax Day Around the World…Here’s a quick excerptShire Pharmaceuticals, a FTSE 100 company, has decided to re-incorporate in Ireland for tax reasons….While yesterday was tax day in the United States, the effects of high taxation were felt all around the world…. [...]