IRS seeks more than $7B in back tax­es and penal­ties from Am­gen for shift­ing prof­its to Puer­to Ri­co

The IRS is now go­ing af­ter both Bris­tol My­ers Squibb and Am­gen for dodg­ing bil­lions of dol­lars in tax­es by shift­ing cer­tain prof­its to Ire­land and Puer­to Ri­co, re­spec­tive­ly.

Am­gen re­vealed Wednes­day as part of its first quar­ter earn­ings re­port that ear­li­er this month the com­pa­ny re­ceived a no­tice from the IRS ques­tion­ing its al­lo­ca­tion of prof­its in the US and Puer­to Ri­co be­tween 2010 and 2015, po­ten­tial­ly short-chang­ing Un­cle Sam by more than $7 bil­lion.

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