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Viagra maker Pfizer pays virtually no corporation tax in UK despite £1.8bn turnover

Pfizer, one of the largest suppliers of drugs to the NHS, avoided paying any corporation tax in the UK last year.

The company behind drugs Viagra and Lipitor produced a whopping £1.8bn turnover on its sales in the UK last year.

However, it posted an operating loss of £46m in 2010 and £59m in 2011 in the UK.

If Pfizer's profit margins in the UK had been similar to average, it would have made a £347m pre-tax profit on its earnings in the country. The firm might have been expected to pay 25% tax to the UK government.

Source and full story: Daily Mail, 10 November 2012

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