Broadcom moving legal headquarters back to U.S.
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The semiconductor company Broadcom is moving its legal headquarters back to the United States from Singapore.
CEO Hock Tan cited the Republican tax plan as a reason for the move back stateside. Among other changes, the plan would cut the corporate tax rate to 20% from 35%.
However, he added that the company will move its headquarters regardless of whether the tax bill passes.
Moving the legal headquarters back to the United States allows Broadcom to avoid CFIUS review, Gardner said.
Singapore will also soon lose some of its allure to Broadcom. Gardner said some tax breaks that Singapore extends to the company will end in 2021.
“It just begs the question of whether — if they are shifting their location once again for tax purposes, whether they’ll do it again in five years when the next Singapore offers new tax breaks,” he said.
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