Hillary Clinton and Donald Trump slam Pfizer deal
Two high-profile American politicians have condemned Pfizer’s deal with Allergan as its base in Ireland will see it avoid higher US taxes.
Democratic front-runner Hillary Clinton said that using legal loopholes would make Pfizer avoid its fair share of taxes in its deal that ‘will leave US taxpayers holding the bag’.
Last week it was announced that Viagra manufacturer and Botox provider Allergan would come together as one “Irish” company, in a £106 billion deal, so the giant pharma company can avail of 12.5 per cent Irish corporation tax as opposed to 35 per cent n the US. Both companies each employ over 3,000 people in Ireland.
The US election will take place in November of next year and Clinton said she would propose steps to prevent more companies from doing the same.
“I have a long list of what we’re going to go after, because I’m sick and tired of what we’ve just seen with this giant pharmaceutical merger, where these companies are leaving America to cut their taxes, when they should be staying here and investing in the people and the opportunities that will build our economy,” she said.
Republican front-runner Donald Trump also called for a corporate tax overhaul saying: “We’re not going to let Pfizer leave. We’re going to talk to Pfizer. They’re going to stay.”
Read our full Pfizer deal article here: www.theirishworld.com/pfizer