Burger King will save millions in US taxes via 'inversion': report

Washington

FAST food chain Burger King will avoid hundreds of millions of dollars in US taxes if, as planned, it completes its pending buyout of Canadian coffee-and-doughnut chain Tim Hortons, a tax activist group said on Thursday.

In one of the most notable of several corporate tax "inversion" deals this year, Florida-based Burger King announced in late August that it would buy Tim Hortons and put the headquarters of the combined company in Canada.