Deals
Pfizer Merger Shows Need for U.S. Tax Changes, Lawmaker Says
- House panel leader says taxes forcing companies to go overseas
- Pfizer plans to move tax address to Ireland in Allergan deal
Inside Pfizer, Allergan's Record $160B Deal
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Pfizer Inc.’s plan to merge with Ireland-based Allergan Plc shows the “critical and urgent need” to overhaul U.S. taxes, the Republican chairman of the House subcommittee that oversees tax policy said Tuesday.
The U.S. is “forcing companies to relocate to countries with more business-friendly tax regimes,” Louisiana Representative Charles Boustany, who leads the House Ways and Means subcommittee, said during a hearing in Washington. “This is not the first, nor will it be the last foreign acquisition pushed over the line by the U.S. tax code.”