Friday, January 05, 2007

Kraft Foods European HQ Moves to Low Tax Switzerland

Kraft Foods, the world's second-largest food maker and owner of brands like Toblerone and Marabou is reportedly planning to move its European headquarters to Switzerland (Also the home of the largest food maker, Nestle), presumably because of the low Swiss corporate taxes.

The low Swiss taxes reportedly irritates many EU politicians, with French politician Arnaud Montebourg saying EU should stop the tax "banditry" of some Swiss cantons, presumably with the threats of breaking free trade agreement with Switzerland and slap tariffs on its exports, the same way as they pushed through an "agreement" extorting a billion Swiss Francs per year henceforth from Switzerland recently. It is quite Orwellian to call limiting the amount of money you extort from honest producers "banditry", normally bandits are defined by taking as much as they can.


Blogger The Scandimerican said...

If you want to read more about tax competition, try:

1:42 AM  

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