October 28, 2014
Pfizer undeterred from tax inversion deals
Pfizer CEO Ian Read said Tuesday that it would still leave the country for tax reasons if the right deal came along. “I see no reason why we wouldn't be able to do an inversion,” he said during the company's third quarter earnings call, Bloomberg reported Tuesday. The US Department of Treasury announced new rules intended to discourage tax inversion deals last month. Among them, the Treasury stated it would target hopscotch loans, which let companies access foreign cash without paying US taxes and the restructuring of a foreign subsidiary to gain tax-free treatment.