Pfizer Inversion Puts Pressure on US Lawmakers to Revamp Tax Rules - Wall Street Journal
By Richard Rubin Nov. 23, 2015 1:01 p.m. ET
WASHINGTON Pfizer Inc. PFE -2.33 % s decision to escape the U.S. tax system by putting its legal headquarters in Ireland puts even more pressure on lawmakers to revamp tax rules and prevent the corporate tax base from eroding. But the largest corporate inversion in history is unlikely to dislodge the obstacles that have prevented action.
The political and technical hurdles to overhauling the tax codeeven a limited set of changes to the taxation of U.S. companies foreign incomehave stymied lawmakers for years. And the fragile consen