Big Pharma giant Pfizer are set to pay a grand total of $0 in taxes this year, despite raking in a mammoth $58 billion in revenue and net income during the financial year, and benefiting from enormous taxpayer funded subsidies.
Every year, Pfizer sends an army of lobbyists to Washington, D.C., seeking to manipulate the tax code to their benefit.
Dossier reports: Thanks to their scale, size, and taxpayer-funded support system, Pfizer and its peers reap tax benefits that allow for the zeroing out of their tax burden.
The mRNA shots, coupled with the failed Paxlovid oral pill, gave Pfizer an unprecedented windfall, delivering tens of billions in annual profits.
Over the years, Pfizer has produced an incredibly extensive overseas tax shelter apparatus, one that includes hundreds of subsidiaries, which exist in over sixty different countries.
For many years, Pfizer - like many of its Fortune 100 peers - has offshored virtually all of its profits, effectively zeroing out its tax burden.
Every year, Pfizer alone spends tens of millions of dollars lobbying legislators to manipulate the tax code to their benefit.
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