THE FINNISH company that created the hugely successful Angry Birds mobile phone game is considering moving its headquarters to Ireland, chief executive Mikael Hed has said.
The mobile phone game has been downloaded by more than a billion users around the world and its owner, the Rovio group, is developing a broad-based entertainment business on the income from the brand.
I wonder why they're thinking about this. Oh, right:
The corporation tax rate in Finland is 24.5 per cent, while Ireland’s rate is 12.5 per cent. Most of the world’s fast-growing technology companies, such as Google and Facebook, have set up European headquarter operations in Dublin so as to benefit from Ireland’s low corporation tax rate.
For the record, the US corporate tax rate is considerably higher than either Ireland or Finland. from CNN.com:
On Sunday, the United States gets a distinction no nation wants -- the world's highest corporate tax rate.
Japan, which currently has the highest rate in the world -- a 39.8% rate on business income between national and local taxes -- cuts its rate to 36.8% as of April 1. The U.S. rate stands at 39.2% when both federal and state rates are included.
Businesses fly to lower taxes. Why is this still a controversial statement?