Tax evaders who renounce US don’t get help
Should we defend their foreign property and CEOs if attacked? Medtronic Is Biggest Yet to Renounce U.S. Tax Citizenship. Medtronic takes a legal address in tax-friendly Ireland as part of a $42.9 billion takeover of Covidien Plc (Tyco). Although Covidien is run from Mansfield, Massachusetts, it’s been incorporated in Ireland since 2009.Minneapolis-based Medtronic joins some 44 American companies that have reincorporated abroad or struck plans to do so, including 14 in a recent wave of moves that began in 2012. Earlier this year, Pfizer Inc., the largest U.S. drugmaker, briefly proposed taking a U.K. address, a move that might have cut its tax bills by as much as $1 billion a year.Will Ireland pay for US marines if needed at Medtronic’s non US factory?Avoid paying their tax bill.
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