Snap, the company behind Snapchat, is making London its new international headquarters. The move is unusual for a US tech firm, with other companies like Google, Facebook, and Uber choosing to settle instead in nations with lower tax rates, such as Luxembourg and Ireland. But with these firms continuing to face criticism for not paying their way, Snap’s decision may prove to be a smart one; preemptively shielding it against any future criticisms of tax avoidance.
The news, first reported by The Financial Times, means that all advertising sales made in countries where Snap doesn’t have a local operation will be booked in the UK. Being exposed to the UK’s higher tax rates won’t be much of a problem in the near-term, though, as Snap has...
via The Verge
