Claims tagged with "Tax"

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Irish officials said their country should not be dismissed as a tax shelter, pointing to the tens of thousands of Irish workers employed by multinational pharma companies. 0.800

👤 Irish officials 📋 News Article 🏷️ Tax , Political

Simplified: Irish officials said Ireland should not be dismissed as a tax shelter.

1 sources

2 days ago
Over the past decade, global tax authorities have increasingly cracked down on such tactics. 0.900

👤 The author 📋 News Article 🏷️ Regulation , Tax

Simplified: Global tax authorities have increasingly cracked down on profit-shifting tactics over the past decade.

1 sources

2 days ago
This arrangement has allowed pharmaceutical companies to move profits out of Ireland and book them in tax havens like Bermuda or the Cayman Islands, which impose no income taxes at all, and where comp... 0.900

👤 The author 📋 News Article 🏷️ Business , Tax

Simplified: Licensing arrangements allow pharmaceutical companies to move profits out of Ireland to tax havens like Bermuda or the Cayman Islands.

1 sources

2 days ago
Today, a vast majority of Ireland’s corporate tax revenue comes from multinational drug companies and tech giants, which have also used Ireland to shift profits. 0.900

👤 The author 📋 News Article 🏷️ Economic , Business , Tax

Simplified: A vast majority of Ireland's corporate tax revenue comes from multinational drug companies and tech giants.

1 sources

2 days ago
Where a company holds its intellectual property is more important for its tax bill than the location of its manufacturing, tax experts said. 0.900

👤 Tax experts 📋 News Article 🏷️ Tax , Business , Economic

Simplified: Intellectual property location is more important for a company's tax bill than manufacturing location according to tax experts.

1 sources

2 days ago
Lower tax rates overseas “drove a lot of the innovative companies to make drugs in low-tax islands like Ireland and Singapore and Switzerland,” said David Ricks, chief executive of Eli Lilly. 0.900

👤 David Ricks 📋 News Article 🏷️ Tax , Business , Economic

Simplified: Lower tax rates drove companies to make drugs in low-tax islands like Ireland Singapore and Switzerland according to David Ricks CEO of Eli Lilly.

1 sources

2 days ago
He called for lower tax rates for companies making products in the United States. 0.900

👤 David Ricks 📋 News Article 🏷️ Tax , Business , Economic

Simplified: David Ricks called for lower tax rates for companies making products in the United States.

1 sources

2 days ago
Changing U.S. tax rules could more directly address the incentives that are motivating drugmakers, they said. 0.800

👤 Tax experts and pharmaceutical executives 📋 News Article 🏷️ Tax , Business , Regulation

Simplified: Changing US tax rules could address incentives motivating drugmakers according to tax experts and pharmaceutical executives.

1 sources

2 days ago
Tax experts and pharmaceutical executives have said that tariffs would be at best a blunt instrument for discouraging corporate activity in Ireland. 0.800

👤 Tax experts and pharmaceutical executives 📋 News Article 🏷️ Tax , Business , Regulation

Simplified: Tariffs would be a blunt instrument for discouraging corporate activity in Ireland according to tax experts and pharmaceutical executives.

1 sources

2 days ago
The president complained in March that Ireland’s tax policies “took our pharmaceutical companies away.” 0.900

👤 The author 📋 News Article 🏷️ Trade , Pharmaceuticals , Politics , Tax

Simplified: President complained in March that Ireland's tax policies took our pharmaceutical companies away

1 sources

2 days ago
Still, the strategy often involves putting it there. 0.800

👤 The author 📋 News Article 🏷️ Business , Pharmaceuticals , Tax

Simplified: Shifting profits strategy often involves manufacturing in Ireland

1 sources

2 days ago
Technically, drugmakers don’t have to put their manufacturing in Ireland in order to shift profits out of the United States. 0.900

👤 The author 📋 News Article 🏷️ Business , Pharmaceuticals , Tax

Simplified: Drugmakers don't have to put manufacturing in Ireland to shift profits out of the United States

1 sources

2 days ago
In the past three years, some of the largest drugmakers booked 91 percent of their profits overseas, on average, up from 76 percent in the mid-2010s, according to an analysis by Martin Sullivan, a tax... 0.900

👤 Martin Sullivan 📋 News Article 🏷️ Business , Pharmaceuticals , Tax

Simplified: Largest drugmakers booked 91 percent of profits overseas on average in the past three years according to Martin Sullivan

1 sources

2 days ago
Forest Laboratories, now owned by AbbVie, shifted profits to Ireland for the antidepressant Lexapro, Gilead Sciences with its hepatitis C treatment Sovaldi and Regeneron with the eye drug Eylea. 0.900

👤 The author 📋 News Article 🏷️ Business , Pharmaceuticals , Tax

Simplified: Forest Laboratories Gilead Sciences and Regeneron shifted profits to Ireland

1 sources

2 days ago
But many of these companies register only a tiny share of the profits in the United States, helping them lower their overall tax bill. 0.900

👤 The author 📋 News Article 🏷️ Business , Pharmaceuticals , Tax

Simplified: Many multinational drug companies register only a tiny share of profits in the United States helping them lower their tax bill

1 sources

2 days ago
They will be better positioned to weather the tariffs if they have “sophisticated tax skills,” Wall Street analysts at the investment bank Leerink wrote to investors in July. 0.800

👤 Wall Street analysts at the investment bank Leerink 📋 News Article 🏷️ Trade , Pharmaceuticals , Business , Tax

Simplified: Drugmakers will be better positioned to weather tariffs if they have sophisticated tax skills according to Leerink analysts

1 sources

2 days ago
For decades, the free flow of medicines across borders “had the side effect of more or less providing manufacturers free rein to play tax games,” said Brad Setser, an economist at the Council on Forei... 0.900

👤 Brad Setser 📋 News Article 🏷️ Trade , Tax , Pharmaceuticals

Simplified: Free flow of medicines across borders provided manufacturers free rein to play tax games according to Brad Setser

1 sources

2 days ago
Such strategies can be legal but have been repeatedly challenged by tax authorities. 0.900

👤 The author 📋 News Article 🏷️ Tax , Regulation

Simplified: Tax avoidance strategies can be legal but have been repeatedly challenged by tax authorities

1 sources

2 days ago
Drugmakers have long shifted their patents and profits there, as well, to avoid billions of dollars in taxes. 0.900

👤 The author 📋 News Article 🏷️ Business , Tax , Pharmaceuticals

Simplified: Drugmakers have long shifted patents and profits to Ireland to avoid billions of dollars in taxes

1 sources

2 days ago
Manufacturing blockbuster medications there offers tax benefits for American drug companies. 0.900

👤 The author 📋 News Article 🏷️ Business , Tax , Pharmaceuticals

Simplified: Manufacturing blockbuster medications in Ireland offers tax benefits for American drug companies

1 sources

2 days ago