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Walgreens' Planned Move From Illinois to Switzerland Would Save $4 Billion in Taxes
Paul Caron
June 15, 2014
Americans for Tax Fairness, Offshoring America’s Drugstore Walgreens May Move its Corporate Address to a Tax Haven to Avoid Paying Billions in U.S. Taxes:
Walgreens could cost taxpayers $4 billion in lost revenue over five years should the company decide to renounce its American corporate legal status and move its official address to Switzerland, a tax haven. The company is widely reported to be considering this move and says it will announce its intentions as soon as this summer. Walgreens is the nation’s largest pharmacy retailer with 8,200 stores and locations in all 50 states.
- Americans for Tax Fairness, Press Release
- Americans for Tax Fairness, Executive Summary
- Americans for Tax Fairness, Pay Subsidies Among Walgreens' Top Executives
- Detroit News, Walgreens' Tax Cheat Could Make You Sick
- Huffington Post, Walgreen Ponders $4 Billion Tax Dodge
- New York Post, Move to Switzerland to Dodge IRS May Give Walgreen Blues
- Reuters, U.S. Activists Slam Possible Walgreen Tax Move as 'Unpatriotic'
- Tax Foundation, A Basic Lesson on the U.S.’s Corporate Income Tax System
- http://taxprof.typepad.com/taxprof_blog/2014/06/walgreens-planned-move.html