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> Why is it corporations only pay taxes in one country anyway? They don't. They pay taxes in pretty much every country where they operate. Pfizer may move to I
by cowsandmilk 11y ago
> Why is it corporations only pay taxes in one country anyway?
They don't. They pay taxes in pretty much every country where they operate. Pfizer may move to Ireland, but they'll still pay US taxes on their operations in the US.
- FussyZeus 11y agoWell yeah but clearly the tax savings are enough to justify the expense of the legal time behind it and the logistics/admin overhead of the move, they wouldn't be doing it if it left them in the red.
- cowsandmilk 11y agoSort of, these companies generally have not been bringing cash back to the US any way, so they haven't been paying US taxes on their non-US money anyway. What moving to Ireland will allow Pfizer to do is pay dividends out of their non-US cash without paying US taxes.