Burger King's move to Canada wasn't about taxes so they claim

NEW YORK (CNNMoney) Burger King says its controversial deal with Tim Horton's wasn't about taxes. But a liberal group opposed to the merger tallied it up and found big savings.

The company could be spared at least $400 million from its U.S. tax bill over the next four years, according to the liberal group Americans for Tax Fairness.

The deal, known as a "corporate inversion," could also save Burger King (BKW)shareholders as much as $820 million in capital gains taxes, according to the group.

"Burger King's inversion adds up to a 'whopper' of a tax dodge," the group said in its report.

Burger King rejected those numbers and said "we do not expect our tax rate to change materially."

"The analysis in the report is materially flawed and the figures do not accurately represent our facts and circumstances," Burger King said in a statement. "As we've said all along, this transaction is driven by growth, not tax rates." Full Story.