By having the company incorporated in Canada, Burger King could be hoping to placate Canadian authorities, who have the power to nix any deal if it isn’t in the best interest of the country. Although the deal is being painted as a tax dodge by the media, the net tax rate by being headquartered in Canada would only be a few percentage points lower, according to the NYT.
Burger King doesn’t make the list of one of the top employers in Miami. Since being bought out by Brazilian private-equity fund 3G Capital in 2010, the company has fired 375 of the 600 employees who once worked in the Miami headquarters office.
Last year, a report claimed that the company was looking to downsize from the 200,000 square foot space it leases in the Blue Lagoon area, but would remain in Miami.