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Reply to: No comment just an observation
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Previously on "No comment just an observation"
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The main reason to move of the headoffice is because of dividend tax, with the Uk becoming an off shore tax dodgers paradise more companies could follow. Production will just stay where it is.
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Apart from discouraging enterprise in the Netherlands, the tax lawyers at Unilever should be able to find a way round it. They would probably need to retain a shell company in Rotterdam, making sure it doesn't make any money.Originally posted by darmstadt View PostWhere does it say EU law in this sentence:
And yesterday:
As I said, it's not a done deal yet
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Where does it say EU law in this sentence:Originally posted by _V_ View PostThey did vote, on October 12th and 99% voted to ditch Dutch company. They are leaving, they will tell the EU to do one, your laws do not apply.
And yesterday:The company last month warned it would reconsider the plans to move if it was affected by the proposed Dutch tax bill, which has been designed to penalise companies with revenues of more than €750m that leave the Netherlands for lower-tax jurisdictions.
As I said, it's not a done deal yetHowever, the FTSE 100 company must still overcome growing support for a bill that would hit the Anglo-Dutch group with an €11bn exit fee for leaving the Netherlands.
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Unilever said it planned to unify on November 29, but growing political support for a Dutch law that would hit multinationals leaving the Netherlands with billions in exit taxes could still scupper the plans.
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Last week, the Green party in the Netherlands said it would press ahead with a vote on a private members bill which, if approved, would impose a retroactive €11bn exit fee on Unilever for choosing to relocate to the UK.Unilever said earlier this year that if the initiative became law, the company would be forced to reverse its decision to relocate from Rotterdam.
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Its not over until the fat lady sings
However, hurdles remain. The unification plan must be approved by shareholders in Unilever’s UK operation, who are set to vote on the matter on October 12.
Meanwhile, growing political support for a Dutch law that would hit multinationals leaving the Netherlands with billions in exit taxes could scupper the plans.
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The company last month warned it would reconsider the plans to move if it was affected by the proposed Dutch tax bill, which has been designed to penalise companies with revenues of more than €750m that leave the Netherlands for lower-tax jurisdictions.
The proposed bill — nicknamed “Hotel California” after the Eagles’ song lyric “you can check out any time you like, but you can never leave” — could cost Unilever €11bn if it decides to move.
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No comment just an observation
99% of Unilever investors vote to become a single London-based group | Daily Mail Online
Unilever shareholders have almost unanimously backed plans to unite the business into a single London-based group.
The move will be the end of an era for the consumer goods business, which has been split between the United Kingdom and the Netherlands for 90 years.
More than 99pc of shares voted in favour of the tie-up, which Unilever wants to complete by the end of November, it said yesterday.
The HQ will now be entirely in the UK, ditching the Netherlands domicile, and the Dutch entity will be merged into the UK entity.Tags: None
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