Tax considerations are pushing more companies to reincorporateabroad, the Wall Street Journal reports. At least 10public companies have reincorporated abroad since 2009. EatonCorp., which moved its incorporation to Ireland in 2009, said thatthe move will save it $160 million per year because of taxbenefits. As companies seek lower tax rates abroad, competitorsfeel the need to do the same.
The U.S. has one of the highest corporate tax rates at 35%,which both presidential candidates have proposed lowering. The taxcode also taxes profits earned abroad, in contrast to mostdeveloped countries.
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