Questions About Pfizer's Taxes

Questions About Pfizer's Taxes

Over the last five years American pharmaceutical giant Pfizer earned on average over $10 billion of annual worldwide pre-tax profits. How much of this profit was attributable to its U.S. operations? Answer: none. In fact, according to annual reports filed with the Securities and Exchange Commission, Pfizer had losses in the United States in every year since 2007.

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There is absolutely no reason to believe Pfizer has done anything illegal... But as a matter of policy we have to inquire as to how a profitable company with lots of employees, sales, assets, and research in the United States only books losses in the United States over an extended period of time... [T]he IRS... is constantly auditing Pfizer. Even the SEC has formally inquired...

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View Marty Sullivan's opinion in its entirety on the taxanalysts® Blog.

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