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joi, 11 august 2022 - 22:53
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Burger King wants to move its main office to Canada to pay lower taxes

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Moving the office is possible with the acquisition of a Canadian company

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According to Bloomberg agency, the Burger King restaurant chain is negotiating the purchase of Tim Hortons coffee shops and the relocation to Canada, being one of the many American companies looking to move to a more convenient tax jurisdiction.

Burger King Worldwide Inc. is the second to largest American fast-food company.

The deal would lead to the creation of the third world-wide fast-food chain, with annual sales of $ 22 billion and 18.000 restaurants in 100 countries. Tim Hortons is the largest company in Canada selling coffee and donuts.

3G Capital, which now owns 70% of Burger King, would hold the majority in the new company. The two brands would continue to act independently.

Canada’s corporate taxes amount to 26.5%, while the USA’s are at 40%.

This transaction will enhance the USA’s debates on companies that are moving their offices to benefit from lower taxes, a practice already common in Europe.

O.C.