The head of the U.S. Senate Finance Committee is seeking details from Amgen about the taxes paid during a recent four-year period as part of an ongoing investigation into tax practices by multinational pharmaceutical companies and efforts made to avoid paying U.S. taxes.
Since early last year, Sen. Ron Wyden (D-Ore.), who chairs the committee, has probed the extent to which some companies have allegedly used offshore subsidiaries to avoid paying U.S. taxes on sales. In at least one instance, he is also examining how a company may register patents in low-tax jurisdictions to avoid paying U.S. taxes. Among his targets: Merck, Abbott Laboratories, Bristol Myers Squibb, and AbbVie.
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