Swiss preferential intellectual property tax laws lure McDonald’s from UK

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Swiss tax rules lure McDonald’s from UK

McDonald’s is to leave London for Geneva, joining the growing ranks of US companies moving their European headquarters to take advantage of preferential intellectual property tax laws.

The fast-food group, which will open its head office in the Swiss city in the autumn, said the move had been almost a year in the planning.

The Swiss tax regime, particularly for intellectual property, has become increasingly attractive for foreign companies, particularly the regional European headquarters of US multinationals.

Kraft, Procter & Gamble, Google, Electronic Arts and Yahoo have switched from the UK to Switzerland in recent years, while Informa, the UK publisher, is changing its tax domicile to the country.

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FT.com / Companies / Food & Beverage - Swiss tax rules lure McDonald’s from UK

McDonald’s said its decision was not prompted by changes in the UK taxation of foreign profits from intellectual property rights made by Alastair Darling, the finance minister, this year. However, the company said the move “enables us to conduct the strategic management of key international intellectual property rights, including the licensing of those rights to our franchisees in Europe, from Switzerland”.