Sloan: What you will pay — but executives won’t — if Pfizer moves to Ireland

The Irish flag | Courtesy of Brett Lohmeyer/Flickr
The Irish flag | Courtesy of Brett Lohmeyer/Flickr

Last week, I showed you the adverse consequences for our society should Pfizer become the biggest company to desert our country by buying New Jersey-based Allergan PLC and becoming an Irish company in order to reduce its income taxes.

Today I’d like to show you the adverse tax consequences that a so-called “inversion” by Pfizer, the nation’s second-largest pharmaceutical company, would create for long-time Pfizer investors.

I’ll also show you how Pfizer — assuming it inverts and behaves as other inverters have — won’t help those shareholders cover their inversion-triggered tax bill. And I’ll show you how it will spend millions of (non-tax-deductible) dollars to compensate board members and top executives for desertion-related tax costs.

Still with me? Here we go.

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Allan Sloan is a columnist for The Washington Post. He is a seven-time winner of the Loeb Award, business journalism’s highest honor. View Archive


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