Workday Takes Advantage Of Irish Tax Break

The US business software maker, Workday Inc (NYSE:WDAY), has shifted a chunk of its intellectual property to Ireland in a move to cut its tax bill. With a current valuation of $15.6bn, the rival to software giants SAP AG (ADR) (NYSE:SAP) and Oracle Corporation (NYSE:ORCL) joins a host of other US corporations that are taking advantage of Ireland’s tax regime to reduce their tax obligations. The company announced that Workday International had been created to ‘hold, license and exploit intellectual property rights’. But it’s a move that will come as a shock to few. Workday bought the Irish firm Cape…