Double Serving In Geneva: McDonald’s’ IP Tax MovePublished on 16 July 2009 @ 2:29 pm
Intellectual Property Watch
McDonald’s is shifting its European headquarters to Geneva in an apparent attempt to avoid new tax rules in the United Kingdom that would result in double taxation of revenues earned from intellectual property rights, according to a spokeswoman for McDonald’s quoted in the Guardian newspaper this week. The move seeks to benefit from advantageous intellectual property tax laws in Switzerland, it said. Under the new UK tax rules, McDonald’s would be liable to pay taxes on revenues earned from licensing its intellectual property rights to franchisees, even if those revenues had already been taxed abroad. The new head office would be opened in Geneva before the end of the year.