Britain becomes haven for U.S. companies keen to cut tax bills
BY TOM BERGIN
▻http://www.reuters.com/article/2014/06/09/us-britain-usa-tax-insight-idUSKBN0EK0BF20140609
In the last year around a dozen major U.S. companies including media group Liberty Global, banana group Chiquita and drug maker Pfizer unveiled plans to shift their tax bases overseas outside the United States.
Historically, when U.S. companies wanted to cut their tax bill they usually reincorporated in Caribbean Islands or Switzerland.
However, following recent legal changes whereby Britain largely stopped seeking to tax corporate profits reported in other countries, including tax havens, companies are increasingly choosing the UK as a corporate base.