Saturday, March 19, 2016

Bernie Sanders to U.S. Treasury: Block Pfizer's Major Tax Evasion

Bernie Sanders urged U.S. Secretary of the Treasury Jack Lew to block a move by pharmaceutical company Pfizer that would create a major tax evasion. In a letter to the Treasury Department on Friday, Sanders explained why the planned $160 billion merger between Pfizer and Allergan would evade U.S. taxation when the headquarters moved from America to Ireland, where Allergan is based.

The potential for Pfizer’s tax inversion, or corporate relocation to a tax haven, has a deadline, as the merger would be created in the second half of 2016, the Wall Street Journal reports .... http://www.alternet.org