WPP to reduce taxes by incorporating in Ireland

LONDON: WPP Group plans to incorporate in the Republic of Ireland to reduce its tax burden. Shareholders will vote on the proposed move in late October, and if approved the scheme will take effect on November 19. The board and management team of WPP will remain the same, as will day-to-day management of the company, WPP said in a release. The new Ireland-based parent company, if approved, would be called WPP plc or New WPP.

LONDON: WPP Group plans to incorporate in the Republic of Ireland to reduce its tax burden. Shareholders will vote on the proposed move in late October, and if approved the scheme will take effect on November 19. The board and management team of WPP will remain the same, as will day-to-day management of the company, WPP said in a release. The new Ireland-based parent company, if approved, would be called WPP plc or New WPP.

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