Planned Pfizer and Allergan merger sparks US reaction to Ireland's tax regime

Pfizer’s talks to acquire botox-maker Allergan in a $150bn (€140.8bn) deal, the global drug industry’s largest ever, that would see the US drug giant re-domicile in Ireland accelerated yesterday, even as the US Treasury prepared to clamp down further on such tax inversions.

The development throws Ireland’s tax regime back under unfavourable international scrutiny, at a time when the country awaits a heavy-hitting ruling from Brussels on whether the authorities here struck a too-sweet deal with Apple about 15 years ago.

The OECD, which is separately driving a process to end aggressive tax planning by giant corporates and regulate tax havens, produced its major report in recent weeks.