TaxCorporate TaxAccenture relocating to Ireland

Accenture relocating to Ireland

Consultancy giant planning a move from Bermuda to the Emerald Isle

Consultancy giant Accenture has said it will be relocating from Bermuda to
Ireland.

The company said it did not expect any material change in its operations,
financial results or tax treatment as a result of the change in its place of
incorporation.

Although not US-based, Accenture is US-listed and has taken similar steps to
public US companies including security giant Tyco International to move to
Europe,
Reuters
said.

Accenture said in a statement yesterday: ‘Accenture announced that its board
of directors has unanimously approved changing the company’s place of
incorporation to Ireland from Bermuda.’

Ireland is seen to have a better relationship with other countries than
Bermuda and US companies are hoping this will help protect them from
President
Obama’s clampdown on overseas profits.

William D Green, Accenture’s chairman & CEO, said Ireland’s corporate,
legal and regulatory environment alongside its tax treaties with European Union
member states, the United States and other countries around the world where the
company does business was the reason for the shift.

Accenture’s shareholders will be asked to vote in favour of the proposed move
at shareholder meetings expected to be held on a date within the next three to
four months, the company added.

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