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Friend of Monsanto, Pfizer Tries to Dodge $35 Billion Tax Bill
naturalsociety.com
After price-gouging sick Americans for its pharmaceutical drugs, Pfizer plans to slip under the IRS’s radar and dodge an estimated $35 billion tax bill by merging with a foreign company (a $160 billion buyout).
Pfizer has connects with biotech giant Monsanto – another company known for pulling circus acts in court and Congress in order to fleece tax payers. Pfizer’s shareholders are expected to vote on a merger with competitor, Allergan, based in Ireland, which would avert the company’s tax bill significantly.
With a self-proclaimed research and development budget of $7.1 billion (based on 2003 data), Pfizer became one of the world’s leading research-based pharmaceutical companies. Despite its US earnings in excess of $49 billion – actually below analysts’ estimates, the company is playing some interesting shell games to try to avoid paying its tax bill.
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