Walgreens, our country’s biggest pharmacy chain, may move its corporate address overseas to avoid paying its fair share of taxes.
It may soon shift its corporate address from Illinois to Switzerland, a tax haven. This may let the company avoid $4 billion in U.S. taxes over the next five years, leaving the rest of us to pick up the tab.
Walgreens would still be controlled from the U.S. It would still benefit from our roads, bridges and infrastructure, and it would will still have more than $70 billion in annual U.S. sales.
A new report, co-authored by Americans for Tax Fairness and Change to Win Retail Initiatives, explores Walgreens’ potential tax avoidance scheme and the impact it would have.
Read the report here.