PAC seeking clarity over €1.3bn cut to Perrigo’s tax bill

The Dáil’s financial watchdog has asked for an explanation of an ‘eye-watering’ drop in Revenue’s tax take from the pharma giant

7th November, 2021
PAC seeking clarity over €1.3bn cut to Perrigo’s tax bill
In late September 2020, Perrigo announced in a stock exchange notice that it had reached a settlement with the Revenue on the tax bill, which related to the sale of drug patents dating back to 2013

The Dáil’s financial watchdog has written to the Revenue Commissioners and the Tax Appeals Commission, seeking a rationale for the decision to slash pharma giant Perrigo’s tax bill from €1.64 billion to less than €300 million.

In a letter sent last week, the Dáil’s Public Accounts Committee (PAC), which oversees the state’s expenditure, has requested a detailed explanation of the reasoning behind the settlement and how it was arrived...

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