Pfizer, the very large pharmaceutics supplier in the US is looking to move some of its operations to the land of green, Ireland. Tax rates for companies are lower across the ocean and since it was discovered as a loop hole in tax code in the 80's many companies have reorganized abroad. By lower, I mean drastically lower. In Ireland the company would be paying about 12.5% taxes as a company rather than 35% here. With a company as large as Pfizer it's a serious way to cut spending.
To hear more about this move, listen or read the story from NPR here.
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