TaxCorporate TaxYahoo shifts London HQ to Geneva for tax

Yahoo shifts London HQ to Geneva for tax

Yahoo to move European headquarters out of London and into Switzerland

Internet company Yahoo is planning to shift its European headquarters out of
London and into Switzerland, with insiders claiming corporate tax as the reason
for the move.

The FT reports that the company has told its 70 business executives
that they need to relocate to Geneva or leave the company. Yahoo employs 700
people in the UK.

The move will worry UK business lobby groups, who have expressed concerns
that changes to capital gains tax and non-dom rules have seen the UK’s tax
system become less competitive.

Yahoo’s plan to leave the UK follows Google’s decision to base its European
headquarters in Zurich. In 2006 game publisher Electronic Arts left the UK for
Geneva too.

Yahoo said the move was part of its strategy ‘to increase competitiveness and
to deliver financial results, performance and efficiency’.

Further reading:

Microsoft plans to get rid of Yahoo!
execs

Related Articles

Watch out when winding up

Corporate Tax Watch out when winding up

2w Emma Rawson, ATT Technical Officer
How might Brexit affect UK tax policy?

Brexit & Economy How might Brexit affect UK tax policy?

2w Santhie Goundar
Corporation tax losses – your newly flexible friends

Corporate Tax Corporation tax losses – your newly flexible friends

3m Emma Rawson, ATT Technical Officer
HMRC large business tax enquiry duration rises to 3 years

Corporate Tax HMRC large business tax enquiry duration rises to 3 years

3m Emma Smith, Managing Editor
SMEs paying higher rate of corporation tax than big businesses

Corporate Tax SMEs paying higher rate of corporation tax than big businesses

3m Alia Shoaib, Reporter
Big names, little tax: Airbnb, Facebook, Kellogg’s, eBay

Corporate Tax Big names, little tax: Airbnb, Facebook, Kellogg’s, eBay

6m Alia Shoaib, Reporter
New trading allowance: simplicity, but not as we know it

Administration New trading allowance: simplicity, but not as we know it

7m Emma Rawson, ATT Technical Officer
EU divided over radical tax reforms targeting tech giants

Corporate Tax EU divided over radical tax reforms targeting tech giants

7m Alia Shoaib, Reporter