http://www.reuters.com/article/2014/08/2...N0GP00R20140825


This is how corrupt our tax system is now. Companies need to pull moves like this to stay competitive.....

Zitat

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Burger King (BKW.N) is in talks to acquire Canadian coffee and doughnut chain Tim Hortons Inc (THI.TO) in a deal that would create a fast food powerhouse with a market capitalization of roughly $18 billion.

Burger King and Tim Hortons, comparable in size by market value, confirmed their merger discussions late on Sunday, saying the new company would be the world's third-largest quick service restaurant. It would be based in Canada, which has lower overall corporate taxes than the United States, especially for entities that have large amounts of earnings from overseas.

The proposed deal would be structured as a so-called tax inversion transaction to move Burger King's domicile out of the United States, and could come as soon as in the next few days, according to sources familiar with the discussions.

Recent attempts by companies for tax inversion deals, which are done to avoid higher U.S. taxes and save money on foreign earnings and cash held outside the United States, have drawn the attention of President Barack Obama, who criticized a "herd mentality" by companies seeking such deals.

Tax inversions have become popular in recent months as low interest rates are making it cheaper for companies to make acquisitions, KeyBanc analyst Christopher O'Cull wrote in a note to clients about the potential deal.

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0bama put the pressure on them to stay and pay up--After all the Economic Patriotism talk coming from him and it is said to be a campaign issue for the Dems

By the way is not BK the Home of the Proud Whooper so I think leaving is Homphobic

"It would be based in Canada, which has lower overall corporate taxes than the United States, especially for entities that have large amounts of earnings from overseas."

See that did not take long for Dems to start the pressure:

Senator: Boycott Burger King
as it eyes move to Canada

As Burger King eyes moving its headquarters to Canada to lower its tax bill, a Democratic senator is recommending a boycott of the burger joint. Instead, Sen. Sherrod Brown, D-Ohio, said hamburger lovers should try out two fast food chains that haven't "abandoned" the United States -- White Castle and Wendy's.

"Burger King has always said 'Have it Your Way'; well my way is to support two Ohio companies that haven't abandoned their country or customers," Brown said in a statement.

Read more:http://www.cbsnews.com/news/senator-boyc...move-to-canada/