by Matthew Allen in Zurich, swissinfo.ch
April 3, 2014 - 11:00
Low Swiss cantonal tax rates have proved a magnet for multinational firms in the past few decades. But international pressure to reform tax practices, combined with a perceived Swiss intolerance of foreigners, have recently tarnished the reputation of ‘Location Switzerland’.
Weatherford only moved its HQ from Bermuda to Zug in 2008, but the company now feels it can enjoy better value in Switzerland’s main European rival for attracting foreign firms – Ireland.
“Our incorporation under Irish law will strengthen Weatherford’s steady course allowing us to operate at the lowest possible cost,” the company said in a April 4 statement.
Providing shareholders agree with the move, Weatherford will follow internet multinational Yahoo that upped...
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