Regus, the world’s largest office space supplier, has announced that it will join the tax exodus from the UK bringing to three the number of corporate departures from the UK this week.
On the same day that the company that specialises in serviced office rental announced a 39% increase in first-half profits, Regus announced that it would move its quarters to Luxembourg.
The uncompetitive tax regime has been cited as a major contributing factor to the move. Regus Chief Executive Mark Dixon told reporters: “Tax is one reason (for the move) but we have had this idea for a long time and see it as a way to internationalise the business”.
Asset manager Henderson Group and engineering company Charter have also announced this week that they will be moving to Dublin where the tax regime is more business-oriented.
“We want the flexibility to be able to structure ourselves for tax. Ireland has a taxation regime that will allow us to manage the taxation of overseas subsidiaries,” said Charter chief executive Michael Forster.
Tags: Regus