Financial

News > Financial > Walgreens Backs Off Plan To Move Tax Domicile Overseas

Walgreens Backs Off Plan To Move Tax Domicile Overseas

(Undated) -- Walgreens is backing away from its plan to reincorporate overseas to slash its U.S. tax bill. The nation's biggest pharmacy chain said Tuesday it's going ahead with plans to buy all of European drug store chain Alliance Boots. But Walgreens said it won't use the deal to move what's called the company's tax domicile to Britain or Switzerland. Such a move would dramatically reduce Walgreens' taxes and weaken the U.S. tax base.

Financial

(New York, NY) -- Stocks hit new record highs this week, but they're ending in the red. The Dow Jones Industrial...
(Columbia, SC) -- President Obama is touting economic gains. Speaking at Benedict College in South Carolina, Obama...
(Washington, DC) -- Treasury Secretary Jack Lew is asking Congress to raise the federal debt ceiling again. The...
(Madison, WI) -- Legislation making Wisconsin the nation's 25th right-to-work state is headed to Governor Scott...
(New York, NY) -- Apple is joining the Dow Jones Industrial Average. The tech giant, America's largest company by...