Senate Prods Pfizer for Details in Profit-Shifting Tax Probe (1)

Pfizer Inc.'s unwillingness to share information about its tax agreements with jurisdictions like Puerto Rico and Singapore is prompting new concerns that it’s shifting profits out of the US to skirt its tax bill, the top Senate tax writer wrote in a letter to the pharmaceutical giant.

“Pfizer’s refusal to cooperate with the Committee’s investigation has only heightened my concern that the company may have used profit shifting techniques to avoid paying billions of dollars in taxes on U.S. prescription drug sales,” Senate Finance Committee Chair Ron Wyden (D-Ore.) said in a letter to Pfizer’s Senior Vice President Jennifer Walton ...