UK tax rates impact pharma April 20th, 2008
The UK taxation rates and policy on worldwide earnings has lead to the decision by Shire Pharmaceuticals to move its tax base from the UK to Dublin, Ireland. The difference in rates is such that it makes relocating away from the UK a significant advantage. Tax on global profits if based in the UK is 28%, compared to only 12.5% in Ireland. With benefits like these, it is only a matter of time before other big players follow suit.
