Deals
Pfizer Seen Avoiding $35 Billion in Tax Via Allergan Merger
- Tax fairness group's analysis called `a little misleading'
- Democratic Congress members ask Obama to crack down on deals
Pfizer Inc. headquarters in New York.
Photographer: Michael Nagle/BloombergThis article is for subscribers only.
Pfizer Inc. will be able to permanently avoid paying $35 billion in U.S. taxes by merging with Allergan Plc, according to a report released Thursday by a group that advocates for tax fairness -- though a tax and accounting consultant called the number “a little misleading.”
Four Democratic members of Congress joined Americans for Tax Fairness, which is affiliated with labor unions, in a news conference urging President Barack Obama’s administration to use executive authority to deny U.S. corporations tax benefits if they move their tax addresses overseas.