NPR Quotes David Rosenbloom: Tax Breaks Could Be Biggest Prize in Pfizer Deal For AstraZeneca
NPR spoke with H. David Rosenbloom concerning Pfizer's interest in purchasing a British biopharmaceutical company, AstraZeneca. The deal would make Pfizer a British company, giving it a new tax home and dramatically lowering the company's tax rate. For the complete article, please visit NPR's website.
Excerpt taken from the article.
But Bloomberg reports that Pfizer's strategy doesn't look all that risky as far as government action goes. "This is basically an opportunity to go outside the U.S. and still sell in the U.S. and strip the tax base," H. David Rosenbloom, an attorney at Caplin & Drysdale in Washington and director of the international tax program at New York University's law school, told Bloomberg. "If we ever had a legislature in the United States, we could do something about this, but I don't expect to live that long."