Merck Tax Rip Off

Merck still has a $1.76 billion tax dispute with Canadian authorities, and has filed an appeal with the Canada Revenue Agency that is expected to be reviewed this year, spokesman Raymond Kerins said. Tax and accounting analyst Robert Willens of Lehman Brothers said in such cases drugmakers generally sell medicines at low cost to subsidiaries in countries with lower tax rates, which can then mark up the prices and keep more profit after taxes.

Merck is not the only Big Pharma company to get caught out engaging in this tax swindle known as transfer pricing. It's based on off shoring ones corporation or personal taxes in a tax haven thus avoiding paying taxes in the country of operation. Something the Irving's have done for years.