Critter7r
DP Veteran
- Joined
- Aug 4, 2014
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They don't have to move the company. They simply stash money overseas to avoid paying more taxes than they have already paid. Having said that, some have moved physically to other countries because of US corporate tax rates. Tyco and Fruit of the Loom are a couple of examples.
"Since 1982, more than 50 American companies have reincorporated in low-tax countries."
So, 1.1 companies per year relocate outside the US. And many of them do it by selling out to a company that is already outside the US, like Tyco did. And most of them AREN'T doing it because of taxes.
And by all accounts (or, 2 minutes of Googling) Fruit of the Loom's headquarters are still in Kentucky. They moved their operations to other countries. And it was to save on labor, not taxes.