Britain Has Become A Tax Haven For US Companies

In another sign that the U.S. corporate tax code is in need of serious reform, comes this article from Business Insider. In what appears to be a growing trend, U.S. companies are changing their tax domicile to Great Britain to take advantage of their lower effective corporate tax rates. Some of the better known U.S. companies that have re-based to Britain are Delphi Automotive, Noble Corp, and Aon. With the Obama administration and Congress at odds on how to fix our corporate tax system, it appears likely that this migration by U.S. firms will only continue. Continue reading.