Pfizer is under investigation in Italy, Bloomberg writes and Ansa confirms it. The suspicion of the Guardia di Finanza is that the pharmaceutical giant has hidden at least 1.2 billion in profits, transferring sums from its Italian subsidiary to the Netherlands and the United States. Bloomberg cites people who are knowledgeable about the transaction which spans a period from 2017 to 2019.
The Guardia di Finanza allegedly hypothesized that the Pfizer headquarters located just outside Rome would have transferred the excess capital to affiliated companies in the United States and the Netherlands to avoid paying taxes on profits that can reach up to 26%. In the reply, the company stated that it was “up to date with the payment of taxes and compliant with the requirements requested by Italy”. “The Italian authorities routinely” carry out checks and “Pfizer cooperates,” Pfizer spokeswoman Pam Eisele told Bloomberg. There is still no assessment report and the party has not yet been notified of anything. The checks will continue in the next few days.