GSK's Alleged $1.9 Billion Tax Dodge Went Against Its Own Ethics Code

Two articles of interest recently sent to me from Seroxat advocate, The Truthman

1ST ARTICLE


GSK's Alleged $1.9 Billion Tax Dodge Went Against Its Own Ethics Code

Source: Bnet Pharma

If you thought GlaxoSmithKline was a British company with a British corporate headquarters whose American Depositary Receipts traded on the New York Stock Exchange, you’re wrong! Turns out GSK is a Swiss company, and its U.S. unit is just a device to dodge taxes, according to the WSJ.

The U.S. government has taken GSK to court, demanding $1.9 billion in taxes owed. It alleges that in the merger of Glaxo-Wellcome and SmithKline Beecham, Glaxo became the U.S. unit of a Swiss-based parent. The newly merged U.S. GlaxoSmithKline then paid tax deductible compensation payments to its Swiss parent, thus reducing its tax bill.

The IRS — unsurprisingly — doesn’t quite understand how paying money to yourself makes it non-taxable. This battle comes after GSK lost a 2006 tax war and ended up paying $3.4 billion in unpaid taxes.

FULL STORY

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2nd ARTICLE

Japan Revises SSRI Warnings--Hostility, Violence

Source: Alliance for Human Research Protection

In Japan reports of violence linked to SSRI antidepressants have raised public awareness to the danger these drugs can pose. A Japanese psychiatrist acknowledges: "To say that being able to tell the difference between depressives and mild manic-depressives is the test of a psychiatrist's true skill is no exaggeration."

The absence of any empirically valid diagnostic tool in psychiatry puts patients at risk of trial and error --i.e., Russian roulette--diagnostic and treatment methods

FULL STORY

Thanks to The Truthman for his tireless research.

Fid

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