[Home]  [Headlines]  [Latest Articles]  [Latest Comments]  [Post]  [Mail]  [Sign-in]  [Setup]  [Help]  [Register] 

150,000+ Sign French LeTTer ... Warning Of Civil War --- Demanding Major AnTi-IslamisT Changes To SocieTy.

Immediate Use of Ivermectin Medicine Globally Can End COVID-19 Pandemic: Scientists

COVID Fraud – Lawyers & Medical Experts start legal proceedings against W.H.O and World Leaders for ‘Crimes against Humanity’

School Board Nazi struggles to breathe while she orders kids to wear masks…

Warren says she'll run for reelection to Senate

WiThheld rouTers ... The laTesT of many roadblocks --- To Arizona SenaTe's audiT of 2020 elecTion

Windham ResidenTs ... Refuse --- To Be Silenced

When Cruelty Actually Is The Point

Fauci's agency spent over $400k on experiments grafting aborted fetal scalps onto mice and rats

Who Is Bill Gates? (Full Documentary, 2020)

Here Is What Republican Voters Really Believe in. It's a Shame the GOP Has No Idea

guTTing america ... going back --- on Track

“The ElecTion is Over”... Trump HaTer Cindy McCain Trashes Arizona ElecTion AudiT ---“Ludicrous” (VIDEO)

DissidenT Episcopalians awarded $100 million worTh of property ... as U.S. Supreme CourT --- declines To Take up Fort WorTh case

Joe Biden needs to stop lying about the cause of the border crisis and start fixing it

George W. Bush says ... The Republican ParTy has a shoT aT fuTure elecTions if iT curbs --- iTs 'whiTe Anglo-Saxon ProTesTanTism' ( heriTage )

BREAKING EXCLUSIVE - TGP’s Jordan Conradson InTerviews AZ AudiT DirecTor Ken BenneTT — HUGE DEVELOPMENTS ... Including Plans To Triple OuTpuT --- QuesTions on Number of FraudulenT BalloTs (VIDEO)

Can Democrats Avoid a Wipeout in 2022?

Biden declares war on America -- literally

Former Trump assisTanT says ... 'freighT Train' of elecTion resulT audiTs coming --- 'The MAGA movemenT is demanding answers'

Tim Scott's 2024 Star Rises After Biden Rebuttal

“We Will Find MisTakes – IrregulariTies ... We Probably Are Going To Find OuTright Fraud” --- AZ GOP Chair Dr. Kelli Ward Give - UpdaTe on HisToric AudiT (VIDEO)

Australia security official warns nations are ‘beating drums’ of war amid Asia-Pacific tensions

Former Obama White House advisor Seth Andrew arrested, accused of stealing from charter school he founded

This is fo sucking funny ... Joe has no clue --- The dumbocrap leaders are in a hearT aTTack panic!!.

The voter suppression lie

War Room ... Rachel Maddow Is Worried abouT whaT AZ ElecTion AudiT will Find — She Knows Georgia Is NexT

Conspiracy Queen Rachel Maddow ... Panics Over --- ‘Dangerous’ Arizona Vote AudiT

‘True To iTs docTrine’ ... ConservaTives plan for a new church afTer UniTed MeThodism spliTs --- over homosexualiTy debaTe

Michael Eric Dyson - WhiTe People Can Help BLM ...by Holding RacisT RelaTives --- ‘To AccounT’ aT Thanksgiving

Derek Chauvin ... The GreaT --- WhiTe DefendanT

New Mexico state trooper executed by Mexican cartel member… Horrific Video

John Kerry in Earth Day wonderland

Democrats Are Cheaters

Derek Chauvin's FaTe ... Is Now in The Hands --- of The Jury

Fools' overture

Democrats Are Terrified of Georgia

Climate Media vs. Climate Science

Why We Black Leaders Support Voter ID Laws

Pelosi: ‘No Plans' to Bring a Court-Packing Bill to the House Floor – at This Time

B-1 Bombers Are Deploying To Norway For The First Time With An Eye On Nearby Russia And The Arctic

High School Coach Fired After Refusing To Enforce “Insane” Outdoor Masks During Sports

CNN Says Chinese-Style Fonts Are Racist

Gran Torino Denounced for Anti-Asian Racism

'It Is Still Not Safe To Go Outside,' Says Fauci's Head In A Jar In Year 2739

Biden Re-Ignites the Waco Fire

Over 500 White People Have Been Killed By Cops Since 2020. There Has Been No Rioting Over Those Deaths.

Buttigieg on Exaggerated Infrastructure Jobs Estimate: ‘I Should Have Been More Precise’

Videos - ChrisTians Tear Down MeTal Fences ... Denounce The Closure Of GraceLife Church --- Due To A COVID-19 ResTricTions

Pete BuTTigieg ... To evangelical vaccine hold-ouTs --- Maybe iT's parT of God's plan


Status: Not Logged In; Sign In

Business
See other Business Articles

Title: Massive $160 Billion Pharmaceutical Merger Stopped Cold It's getting harder for Big Pharma to dodge taxes
Source: Natural Society
URL Source: http://naturalsociety.com/allergan- ... rger-stopped-obama-taxes-7200/
Published: Apr 9, 2016
Author: Christina Sarich
Post Date: 2016-04-10 16:09:45 by U don't know me
Keywords: None
Views: 225
Comments: 1

Massive $160 Billion Pharmaceutical Merger Stopped Cold It's getting harder for Big Pharma to dodge taxes

by Christina Sarich Posted on April 9, 2016

As Washington cracks down on pharmaceutical company greed, the largest ever health-care-acquisition between Allergan and Pfizer has been dissolved.

Pfizer will have to pay Allergan $400 million in fees for pulling out of the planned $160 billion merger, but the mega-pharmaceutical company will end up paying much more in avoided taxes.

Pfizer was targeting the merger with Allergan, which has a legal ‘home’ office in Dublin, Ireland, and was meant as a safe haven to avoid paying millions in taxes to the US government. Pfizer is based in New York, and would need a foreign address in order to get a lower tax rate.

Big Pharma has been fighting with the current administration to avoid paying taxes for some time now. As Forbes reports:

“Jack Lew, Obama’s secretary of the treasury, called Pfizer’s bluff, instituting new rules to make the move as difficult as possible.”

This is likely what made Pfizer call off the merger with Allergan, and why the stock price is suffering. Should the $160 billion-dollar deal have gone through, it would have amounted to the largest merger in history.

Lew is also uncovering a host of shady dealings between at least half a dozen pharmaceutical companies which will now be affected by the ‘un-done’ deal. For example – Allergan, who makes Botox, used to pay taxes with a base in Irvine, California, but then was purchased by a Dublin-based pharma company called Actavis for $66 billion. Then there were a few more exchanges and mergers between a New Jersey-based pharma company, a Swiss-based company, and finally Allergan’s eventual tax-base in Dublin, Ireland.

Lew says that the blow to Pfizer is just the first layer of the onion, and many of these other deals, which just happened to be paid for partially by tax-payer money, will be considered null and void with the new rules.

The slew of companies listed above were each trying to dodge US taxes – a practice which will be harder to achieve now that the dissolved Pfizer/Allergan deal stands as an example.

This tax evasion practice is doubly offensive since Americans pay more for pharmaceutical drugs than the citizens in any other country in the world.

Sources:

Bloomberg

Post Comment   Private Reply   Ignore Thread  


TopPage UpFull ThreadPage DownBottom/Latest

#1. To: U don't know me (#0)

This tax evasion practice is doubly offensive since Americans pay more for pharmaceutical drugs than the citizens in any other country in the world.

Well ... only some Americans are confronted with unaffordable prescription drug prices. For those that have a job in the government "services" or are retired from government "services" ... they don't see any issue with pricing. Nope, they are protected by the good faith of the American People; it the good 'faith' is called HUGE taxes payable each and every April or off to jail we go.

buckeroo  posted on  2016-04-10   17:10:25 ET  Reply   Trace   Private Reply  


TopPage UpFull ThreadPage DownBottom/Latest

[Home]  [Headlines]  [Latest Articles]  [Latest Comments]  [Post]  [Mail]  [Sign-in]  [Setup]  [Help]  [Register] 

Please report web page problems, questions and comments to webmaster@libertysflame.com