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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.

Pfizer Inc. headquarters in New York.

Photographer: Michael Nagle/Bloomberg
Updated on

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.