Italian Authorities Investigate Pfizer For Allegedly Funneling $1.2 Billion Out Of Country To Avoid Taxes
Italian authorities launched an investigation into Pfizer earlier this year for allegedly funneling over a billion dollars in profits out of the country to dodge paying certain taxes, sources told Bloomberg.
Italy’s Guardia di Finanza, a police force under the Minister of Economy and Finance, alleges that the pharmaceutical giant transferred $1.2 billion in excess capital to affiliates in the United States and the Netherlands to skirt taxes on profit between 2017 to 2019, according to the outlet.