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...

Subscribe from just €1 for the first month!

Currency

What's Included

With any subscription you will have access to

  • 971569B3-2C5E-4C45-B798-CEADE16987A8

    Unlimited multi-device access to our iPad, iPhone and Android Apps

  • 099C8662-C57C-42F2-9426-F2F90DF17C8F

    Unlimited access to our eReader library

  • 198AE43B-B9CF-4892-8769-D63C2104BA08

    Exclusive daily insight and opinion seven days a week

  • D8F37B78-25E4-4E4A-A376-4F5789B1564A

    Create alerts to never miss a subject that matters to you

  • B15F2521-37CD-4E02-B898-730A20D39F7F

    Get access to exclusive offers for subscribers on gifts and experiences

  • A564FE02-1AB8-4579-AF9D-BA32A2E5ACA7

    Get content from Business Post, Business Post Magazines, Connected, Tatler and Food & Wine

Related Stories

Tom Maguire: A corporation tax proposal that will bring certainty to Irish business

Brian Keegan: France has big plans for its EU presidency

Taxing times: How a rise in suspicious transaction reports is helping Revenue know where to look

Revenue deploys ‘real-time’ info to claw back €105m in wage subsidies