Italian tax authorities investigate Pfizer profits – sources

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MILAN (Reuters) – Italian tax authorities are investigating profits reported by Pfizer Inc’s local unit, Pfizer Italia srl, two sources with knowledge of the matter told Reuters on Thursday.

« Italian tax authorities regularly monitor and investigate taxes paid by Pfizer and Pfizer is cooperating with these checks and investigations, » the US pharmaceutical company said.

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« Pfizer respects the laws and obligations towards the Italian tax authorities, » he added in an emailed statement.

Italy’s finance police and revenue agency declined to comment.

The checks carried out by the finance police in Rome are an administrative audit and not a criminal investigation and Pfizer has not yet been informed of the conclusions, the two sources said.

At the end of the process, the police must, under Italian law, report the result to the company concerned and to the State tax agency, which then draws up a so-called act of acceptance of the assessment and payment of any amount deemed due. (Reporting by Emilio Parodi; Editing by Gavin Jones and Alexander Smith)