...On May 4, 2009, President Barack Obama and Treasury Secretary Timothy Geithner announced the first two pieces of the Obama Administration's plan to overhaul the international tax code, which is anticipated to yield $210 billion of additional tax income over 10 years beginning in 2011. The proposed tax reform builds on corporate tax provisions found in the "Tax Reduction and Reform Act of 2007" (H.R. 3970), initiated in October 2007 by the Chairman of the House Ways and Means Committee, Rep. Charles Rangel. The two major components of the reform target changing U.S. tax deferral rules and closing specific legal tax breaks to generate $189.6 billion of additional tax revenues over 10 years just from U.S.-based multinational corporations, including U.S. pharmaceutical developers. This report walks through the latest proposal and discusses the potential impact to the overall pharmaceutical industry and its participants. International Tax Reform Proposals...
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| Report Type: | Special Report
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| Company(ies): | Abbott Laboratories, Allergan, Inc., Amgen, Inc., Bristol-Myers Squibb Company, Eli Lilly & Company, Merck & Company, Inc., Pfizer Inc., Schering-Plough Corporation, Wyeth
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| Ticker(s): | ABT , AGN , AMGN , BMY , LLY , MRK , PFE , SGP , WYE
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| Issuer: | Schering-Plough Corporation
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| Free Sample: |
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| Format: | | PDF |  |
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