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  1. #1

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    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.
    I design idiot proof software. Trouble is, they keep making better idiots.

  2. #2

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    Whatever happens, it will come out in the wash
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  3. #3

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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.
    ...
    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.
    Brexit is having a wee in the middle of the room at a house party because nobody is talking to you, and then complaining about the smell.

  4. #4

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    Quote Originally Posted by darmstadt View Post
    Its not over until the fat lady sings
    They 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.
    I design idiot proof software. Trouble is, they keep making better idiots.

  5. #5

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    Quote Originally Posted by _V_ View Post
    They 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.
    Where does it say EU law in this sentence:

    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.
    And yesterday:

    However, 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.
    ...

    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.
    ...

    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.
    As I said, it's not a done deal yet
    Brexit is having a wee in the middle of the room at a house party because nobody is talking to you, and then complaining about the smell.

  6. #6

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    Quote Originally Posted by darmstadt View Post
    Where does it say EU law in this sentence:



    And yesterday:



    As I said, it's not a done deal yet
    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.
    His heart is in the right place - shame we can't say the same about his brain...

  7. #7

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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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    It's a clean break.
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