Well it turns out that Tim Hortons, that coffee shop that is the Canadian version of Starbucks wasn’t really Canadian after all. It used to be owned by Wendys, but no worries, it is now becoming a subsidiary of a Canadian company!
Tim Hortons Inc., the coffee chain with an image as Canadian as hockey and maple syrup, said Monday it plans to change its registration to become a Canadian company.
The company said it has filed a plan with the U.S. Securities and Exchange Commission to become a subsidiary of a firm incorporated in Canada. Tim Hortons is currently the subsidiary of a U.S. firm, after being spun off by former owner Wendy’s International in 2006.
The management and board of directors of Tim Hortons said the move would boost the company’s position to take advantage of lower Canadian tax rates commencing in the year after the change is made.
By the way Tim Hortons, I would love to find your cheaper Canadian taxes!
