Is Trump About To Blow Up Medtronic's Tax Avoidance Business Model?
In 2015 Minneapolis-based Medtronic merged with Covidien, creating one of the largest global medical products companies. The main rationale for the deal was the ability of the new company to have all its tax accounting headquartered in Dublin, Ireland, instead of America. The company touted Ireland's 12.5% main corporate income tax rate as a huge benefit for shareowners vs. the U.S. 35% tax bracket.