Sen. Wyden questions Pfizer over tax rate as part of ongoing investigation

Sen­ate Fi­nance Chair Ron Wyden (D-OR) is press­ing Pfiz­er over its tax prac­tices as part of his in­ves­ti­ga­tion in­to how large phar­ma com­pa­nies use sub­sidiaries in oth­er coun­tries to skirt US cor­po­rate tax­es.

The six-page let­ter sent to Pfiz­er CEO Al­bert Bourla on Mon­day points to IRS fil­ings from the past sev­er­al years that show the com­pa­ny has a far low­er ef­fec­tive tax rate than the US cor­po­rate rate of 21%. In his let­ter, he pushed the com­pa­ny to pro­vide a long list of de­tails about where and how it makes its prof­its, and how it us­es tax ju­ris­dic­tions around the world.

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