By: Roberto

Roberto — Tue, 24 Nov 2015 14:46:00 +0000

So will the US revoke the passports of the tax-dodging executives at Pfizer? U.S. pharmaceutical giant Pfizer (PFE) and Irish rival Allergan(AGN) Monday announced a record-breaking $160-billion merger, the largest in health-care industry history and the biggest yet involving a controversial tax-avoidance strategy. The new combination would retain Allergan’s legal and tax residency in Ireland. Pfizer would have its global operational headquarters in New York and its principal executive offices in Ireland. Just Google “tax inversion,” Pfizer is carrying out what is known in the U.S. business world as a tax inversion deal. This involves an American company combining with a business located in a foreign country (Ireland) with a lower corporate tax rate, potentially avoiding millions of dollars annually in U.S. taxes. And do you think that the millions of dollars in savings by Pfizer will result in lower drug costs to U.S. citizens? Ha-ha.

By: Larry Worsham

Larry Worsham — Mon, 23 Nov 2015 19:25:00 +0000

And they wonder why everyone hates the IRS!

By: gc

gc — Mon, 23 Nov 2015 18:24:00 +0000

Raul giving the USA advice i see.

Comments on: Behind with the IRS? Americans could soon find their passports revoked

By: Roberto

By: Larry Worsham

By: gc