Monday March 31, 2008
Yahoo!'s move to Geneva raises fears about Britain's tax policy
Danny Fortson
Independent
Fears of an exodus of major companies from Britain intensified yesterday after the internet search giant Yahoo! confirmed its decision to move its headquarters from London to Geneva. The US company is understood to want to relocate to Switzerland, where business taxes are much lower than in the UK, to "increase financial performance".
Its decision comes only days after the Budget, in which the Chancellor, Alistair Darling, pushed through changes to the tax system which disappointed the business lobby.
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