CBS News: Why Pfizer is so bent on lowering its tax rate

“According to Matthew Gardner, executive director of the Institute on Taxation and Economic Policy, the New York-based company has 151 subsidiaries in known tax havens such as the Cayman Islands. Pfizer also claims to have lost $16 billion in the U.S. over the past five years while earning about $80 billion overseas. Between 2010 and 2012, it paid no U.S. income taxes, according to Americans for Tax Fairness.”

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