{"id":343765,"date":"2011-03-28T07:04:14","date_gmt":"2011-03-28T07:04:14","guid":{"rendered":"http:\/\/www.ghanamma.net\/2011\/03\/28\/tax-deal-lifts-astrazeneca-profit\/"},"modified":"2011-03-28T07:04:14","modified_gmt":"2011-03-28T07:04:14","slug":"tax-deal-lifts-astrazeneca-profit","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2011\/03\/28\/tax-deal-lifts-astrazeneca-profit\/","title":{"rendered":"Tax deal lifts AstraZeneca profit"},"content":{"rendered":"

\n \t\t
\n 28 March 2011<\/span>
\nLast updated at <\/span>03:04 ET<\/span>
\n<\/span><\/p>\n

AstraZeneca has announced that US and UK tax authorities have agreed a deal over the pharmaceutical giant’s tax bill that will help increase its earnings this year.<\/p>\n

As a result of the agreement, AstraZeneca will pay a net amount of $1.1bn (\u00a3690m) to cover US tax payments between 2000 and 2010.<\/p>\n

This means it will pay a lower rate of tax this year, boosting earnings by 50 cents per share, it said.<\/p>\n

The firm made $11bn in profit in 2010.<\/p>\n

The payment also covers taxes relating to the integration of AstraZeneca’s US businesses in 2000 following the merger of Sweden’s Astra and the UK’s Zeneca in 1999.<\/p>\n

The company said it would pay the tax bill this year.<\/p>\n

It added that it had set aside provisions to cover this payment that were greater than the $1.1bn that has finally been agreed after years of negotiations with tax authorities.<\/p>\n

As a result, earnings in the first three months of this year will be boosted by $500m.<\/p>\n

AstraZeneca employs more than 67,000 people worldwide, including 11,000 in the UK where it has sites at Macclesfield and Wilmslow in Cheshire, Luton, Loughborough, Edinburgh, and Brixham in Devon.<\/p>\n<\/p><\/div>\n<\/p>\n

See the article here:
\nTax deal lifts AstraZeneca profit<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

28 March 2011 Last updated at 03:04 ET AstraZeneca has announced that US and UK tax authorities have agreed a deal over the pharmaceutical giant’s tax bill that will help increase its earnings this year. As a result of the agreement, AstraZeneca will pay a net amount of $1.1bn (\u00a3690m) to cover US tax payments between 2000 and 2010. This means it will pay a lower rate of tax this year, boosting earnings by 50 cents per share, it said. <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-343765","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"\nTax deal lifts AstraZeneca profit - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2011\/03\/28\/tax-deal-lifts-astrazeneca-profit\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Tax deal lifts AstraZeneca profit - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"28 March 2011 Last updated at 03:04 ET AstraZeneca has announced that US and UK tax authorities have agreed a deal over the pharmaceutical giant's tax bill that will help increase its earnings this year. 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