Covidien received permission from its stockholders to shift its incorporation from Bermuda to Ireland, a country that also has low corporate taxes. Covidien is based in Mansfield, Mass., but has been incorporated in Bermuda. It created Covidien plc in Ireland to enable the switch, which Covidien expects Bermuda’s Supreme Court to approve soon. Covidien said the change of residency for tax purposes would have no effect on its U.S. operations. (Click here for more)
“Covidien Shareholders OK Ireland Move” - Providence Business News (5/28/09)
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May 29, 2009
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