Irish Forums Message Discussion :: US Company moves assets out of Ireland

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US Company moves assets out of Ireland

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Irish Business News Discussion:     US Company moves assets out of Ireland

A USA multinational is reportedly set to move 25bn worth of assets out of the country to avail of lower tax rates abroad. Reports are emerging this morning say the drug group Bristol-Myers Squibb is planning to move its assets into a holding company outside of Ireland. The company says there is no threat to jobs in its Irish facilities at Swords and Mulhuddard.

Bristol Myers Squibb would be the latest as other major businesses are also said to be considering similar moves. Maybe even more concern is the news that three Irish semi-state companies had moved funds to holding companies in the Netherlands to avoid paying corporation tax.

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