Pfizer aims to flee U.S. taxes with $100 billion takeover bid | Daily Ticker - Yahoo Finance
There have been dozens of such
transactions, which in addition to easing the tax burden on future
profits allow a U.S. company to access whatever cash it has accumulated
overseas from past earnings. U.S. tax law requires that American
companies pay taxes to the Treasury on any retained earnings they bring
home, leading U.S.-based multinationals to pile up nearly $2 trillion in
cash in foreign accounts.
As I discuss with Yahoo Finance
Editor-in-Chief Aaron Task in the attached video, the Pfizer bid for
AstraZeneca is not principally motivated by "tax arbitrage."
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