Blog: Wealth Reserve

Tax evaders who renounce US don’t get help
​Should we defend their foreign property and CEOs if attacked? Medtronic Is Biggest Yet to  Renounce U.S. Tax Citizenship. Medtronic takes a legal address in tax-friendly Ireland as part of a $42.9 billion takeover of Covidien Plc (Tyco). Although Covidien is run from  Mansfield, Massachusetts, it’s been incorporated in  Ireland  since 2009.Minneapolis-based Medtronic joins some 44 American companies that have reincorporated abroad or struck plans to do so, including 14 in a recent wave of moves that began in 2012. Earlier this year, Pfizer Inc., the largest  U.S. drugmaker, briefly proposed taking a  U.K. address, a move that might have cut its tax bills by as much as $1 billion a year.Will Ireland pay for US marines if needed at Medtronic’s non US factory?Avoid paying their tax bill.

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