“Pfizer complies with the laws and tax requirements of Italy,” assured the company, for its part.
Pfizer is the subject of an investigation by the Italian financial police who suspect the American pharmaceutical group of having concealed at least 1.2 billion euros in profits to avoid taxation of up to 26% in Italy, reported the Bloomberg agency.
In order to escape the Italian tax authorities, the Italian branch of Pfizer would have transferred funds to subsidiaries in the United States and the Netherlands, assured sources close to the investigation quoted Wednesday evening by the financial agency. The investigation into the pharmaceutical giant began in February and covers the years 2017, 2018 and 2019, they said. “The Italian tax authorities regularly carry out audits and investigations of Pfizer’s taxes, and Pfizer cooperates with these audits and investigations.“A spokesman for the American group told AFP on Thursday. “Pfizer complies with Italian tax laws and requirements“, he said.
Positive results
Sales of Pfizer’s anti-Covid vaccine and pill boosted its results in the second quarter. The worldwide turnover of the American laboratory thus jumped by 47% to reach 27.74 billion dollars, a record. Pfizer is not the first foreign group to have aroused the suspicions of the Italian tax authorities. The French luxury group Kering reached an agreement with the Italian tax authorities in April for an amount of 186.7 million euros to settle a dispute concerning its Bottega Veneta brand.
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In 2019, Kering had already reached an agreement with the Italian tax authorities leading it to pay a “additional tax amountof 1.25 billion euros, including penalties and interest, in the context of proceedings for tax evasion concerning its Gucci brand.
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