By Greg Hazley
WPP has moved its corporate base back to the United Kingdom after four years as a tax resident of Ireland.
The PR and advertising conglomerate officially makes the return as shares of a new UK-based entity begin trading today, after shareholders approved the scheme in December.
WPP CEO Martin Sorrell has said that the UK government is pursuing more beneficial taxation on foreign profits than policies implemented in 2008.
A new WPP has been incorporated in Jersey becoming a tax resident of the UK. The company said the move will not result in any significant changes in its day-to-day operations.
WPP shares closed the year near a 52-week high of $72.96. |