Shire’s tax chief to testify at UK public accounts committee hearing

Fearghus Carruthers, head of tax at Shire Pharmaceuticals, has been added to the list of witnesses scheduled to testify at a December 8 UK House of Commons Public Accounts Committee hearing on the role of large accounting firms in multinational tax avoidance. Carruthers will join Kevin Nicholson, PwC UK’s head of tax, who was already scheduled to testify.

Shire was an English company until 2008, when it moved its headquarters to Dublin in reaction to tax measures announced by the UK government. In July, US firm AbbVie planned to buy Shire for $52.8 billion and move the combined company’s tax residence to the UK in what would have been the largest US inversion ever. The deal fell apart, though, because of the subsequent issuance of US Treasury rules designed to inversions.

The hearing is scheduled to begin at 3:15 p.m.

See,

• UK Parliament website 

 

Related MNE tax article:

• PwC UK’s tax chief to testify on large accounting firms’ role in tax avoidance

• US Treasury unveils new rules to stop corporate inversions