Walgreens to renounce U.S. citizenship | WHAT REALLY HAPPENED


Walgreens to renounce U.S. citizenship

Walgreens CEO, Gregory D. Wasson, announced that it plans to move its corporate headquarters to Switzerland as part of a merger with Alliance Boots, a European drugstore chain. The move will allow Walgreens profits to be taxed a lower rate in Switzerland and reduce Walgreens taxes in Illinois.

Walgreens plans the move, even though the taxpayers of Illinois gave it a $6 million tax credit over a period of 10 years, provided $625,000 in training money and $875,000 in additional tax incentives.

Tags:

Comments

SHARE THIS ARTICLE WITH YOUR SOCIAL MEDIA