Friday, November 3, 2017

Broadcom to move HQ back to U.S. from Singapore

Broadcom announced plans to re-establish itself as a U.S. corporation. It is currently domiciled in Singapore for tax purposes.

Broadcom said the redomiciliation will occur whether or not there is corporate tax reform in the United States, although the final form and timing of the redomiciliation will be affected by any corporate tax reform.

Hock Tan, Broadcom's president and CEO, announced the decision at a White House event with President Trump.

“We believe the USA presents the best place for Broadcom to create shareholder value,” said Hock Tan. “We expect the tax reform plan effectively to level the playing field for large multinational corporations headquartered in the United States and to allow us to go all in on U.S. redomiciliation.  However, we intend to redomicile to the United States even if there is no corporate tax reform.”

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