IHS Becomes Latest Company To Give Up U.S. Citizenship For Lower Taxes

[Purveyor]

Source: Washington Post

By Renae Merle March 21 at 4:00 PM

Data provider IHS announced a $13 billion merger Monday that would make it the latest U.S. company to move its headquarters overseas, where it would face lower taxes.

Colorado-based IHS is merging with the smaller London-based Markit in what is known as an “inversion,” in which U.S. companies are bought by or merge with foreign firms to reduce U.S. corporate tax burdens.

The new combined company, IHS Markit, would be based in London and have a corporate tax rate in the low-to-mid-20-percent range. That is far lower than the 35 percent corporate tax rate in the United States. IHS said some key operations would remain in Colorado.

“The rationale for the merger is to create the leading global information services company and benefit from identified cost and revenue synergies,” Ed Mattix, IHS’ senior vice president for corporate communications, said in a statement. “We have adopted a tax structure we think is most appropriate for the combined company.”

Read more: Link to sourcehttps://www.washingtonpost.com/news/business/wp/2016/03/21/data-company-ihs-becomes-latest-to-give-up-u-s-citizenship-for-lower-taxes/

[allan01]

1. then they should be hit with tarrifs just like other foregien companies

[ymetca]

2. The "inversion"

signals the death-knell of neoliberal economics. The self-devouring process that proceeds collapse. Solve et Coagula, the alchemists would say.

Global transmogrification, as it were... out of the muck... schlepping toward Bethlehem...

Building the Perfect Beast

[JDPriestly]

3. I wonder if their corporate leaders realize that by moving their corporate headquarters

and their tax money out of our country, they are making it unlikely that we will continue to maintain the military that is vital to protecting their international markets. They, oddly enough, are choosing to force us to be a far more peaceful country.

It's kind of a strange thing to watch.

I hope the countries they go to realize what kind of horrible influence some of those countries have been on ours.

Even the ones that do wonderful things in terms of their company's products pay for our overly active military and our overly intrusive surveillance system.

But where would they be without those things.

I seriously doubt that some terrorist is going to want to come to the US to kill me and you if we aren't using our military to control or kill in their country.

Personally, I'm not all that materialistic and neither are my children. We will be fine, but all these companies leaving the US may have some effect on the value of our currency in time.

They are being penny wise but pound foolish.

Good riddance.

We can spend our tax money on things we want and not on keeping trade routes safe for the profits of these selfish people.

All the more reason to vote for Bernie because as a country we are going to have to work together to deal with this developing and new reality.

I think that the trade agreements we have today will not be in effect for as long as these companies think. I think we will as a country put tariffs on the products that they produce, want to sell to us, but don't want to pay taxes to us on. That's my prediction. It will take some years for us to see these changes. But I think they are likely to happen.

[turbinetree]

4. Great.........................

let me see if I can find someone outside the country, that pays hardly any taxes, and I will see if I can merge with them, you know, all I have to do is find me a John Doe, or Jane Doe, that will accept the terms-----------------let's go completely global.

And I can use the semantics that this free trader has in mind, what the hell it's good enough for him / them, why not the rest of us / we......................................and we now have Koch Brother and other "Dark Money interests in Congress letting this happen, and then we get the proverbial shaft and have to make up this lost tax revenue, to keep ---------------------oh----------- I don't know the drinking water in this place safe, a police officer, fireman---------------------really, its like the shell game with a pea

“The rationale for the merger is to create the leading global information services company and benefit from identified cost and revenue synergies,” Ed Mattix, IHS’ senior vice president for corporate communications, said in a statement. “We have adopted a tax structure we think is most appropriate for the combined company.”

Honk--------------------------for a political revolution Bernie 2016

[Xolodno]

5. Wierd.

Their profits may be taxed less....but wait until they find out that their costs will go up. Europe requires much more for their workers....do they not know that?

Or maybe, that is the reason. A lot of companies would like to see Single Payer, a better transportation system for their employee's, etc.

[Elmer S. E. Dump]

6. I wish every customer would threaten to use another company if they did this.

No American should buy from one of these traitor companies, if they can avoid it. It would be great if there was a list of companies that have done this so we could choose wisely.

[TexasMommaWithAHat]

7. Our tax system is responsible for this

Some corporations pay little to no taxes because they are able to take advantage of tax laws, while other corporations pay much higher tax rates.

Just imagine how much money we could collect if every corporation HAD to pay a twenty percent tax rate. No exceptions.