Tax Group: Pfizer Would Avoid $35B In Taxes Through Merger
The Americans for Tax Fairness slammed the drugmaker in a new report that says Pfizer structured its deal with Ireland-based Allergan so that it could move its address out of the country, thus avoiding $35 billion in taxes.
Liberal Group, House Dems Slam Pfizer For Tax Dodging
A report released Thursday by a liberal-leaning group and several House Democrats attacks pharmaceutical giant Pfizer for dodging taxes while raising prescription drug prices. Pfizer announced in November that it would merge with Ireland-based Allergan in what is viewed as the largest corporate tax inversion to date. The merged company would have an Irish legal residence, which would allow Pfizer to lower its tax burden. But the combined company would continue to be managed in the United States. (Jagoda, 2/25)
The Associated Press:
Tax Group Blasts Pfizer, Urges Stop To Its Tax-Cutting Deal
A consumer coalition is accusing drugmaker Pfizer of seeking to avoid $35 billion in U.S. taxes by buying fellow drugmaker Allergan, a deal structured to nominally move Pfizer's address to lower-tax Ireland, Allergan's home. In a report, Americans for Taxpayer Fairness says that would also slash New York-based Pfizer's future U.S. taxes. (2/25)