Pfizer run? Change company nationality or save $35 billion tax!

Source: Biovalley 2016-03-02 March 2, 2016, if you want to evaluate the major events in 2015 in the biomedical industry So Pfizer's acquisition of Erjian must be among the top three Now, as the merger nears, an organization called Americans for tax fairness (ATF) recently released a report that puts Pfizer on the cusp again In the ATF report, investigators said Pfizer would get as much as $35 billion in tax avoidance through its merger with Elgin This figure is based on the data released by Pfizer in 2014 In fact, it is no secret that Pfizer acquired Elgin to achieve tax avoidance The pharmaceutical giant has long sought to reduce tax rates, with the merger passing to reduce corporate tax rates from 35% in the us to 12.5% in Ireland However, ATF said that if this turns out to be the case, it will be a major injury to American consumers ATF Frank Clemente believes that Pfizer, on the one hand, reduces the cost of drugs through tax avoidance, on the other hand, maintains the original price of drugs in the U.S market, which undoubtedly damages the interests of consumers He also said that if Pfizer wants to become an Irish company, while maintaining its foundation in the United States Then the company must reduce the drug price in America to that in Ireland According to the data, Pfizer's seven top selling drugs cost 12 times more in the United States than in Ireland Many economists, however, have questions about the $35 billion ATF has generated For example, Jennifer bloun, an accounting professor from Penn University, believes that it is difficult for Pfizer to clearly divide the tax payable in the United States in the end, because the relevant policies and tax rates of the United States government must be taken into account This year coincides with the presidential election year of the United States, and this issue has inevitably attracted the attention of both parties Earlier last week, some Republican members wrote to regulate the policies and regulations related to income divestiture in order to reduce the possibility of corporate tax avoidance The Treasury also called on Congress to legislate on related issues as soon as possible.