#Moderna, #BioNTech, and #Pfizer, The #Vaccine, Virtuosos:

 Ah, the intricate dance of pharmaceutical companies and their tax maneuvers—it’s like a tango performed on a tightrope! Let’s step onto the floor and explore who’s been leading this tax cha-cha during the COVID-19 pandemic.

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   Moderna, BioNTech, and Pfizer: The Vaccine Virtuosos:
   • These three companies—Moderna, BioNTech, and Pfizer—have been twirling in the spotlight due to their mRNA COVID-19 vaccines. 🌟
   • Moderna and BioNTech have been reaping astronomical profits, with profit margins soaring up to 69%. Meanwhile, Pfizer is also doing quite well. 💰
   • But here’s the twist: While they’re raking in the dough, they’ve managed to pay little in taxes. 🕺

2. The Tax Tango Explained:

   • You see, these companies make most of their sales right here in the good ol’ U.S. of A. 🇺🇸
   • Thanks to our unique healthcare system and the higher prices Americans pay for drugs, their revenue streams flow generously from American pockets.
   • Yet, when it comes to taxes, they’ve got some fancy footwork going on:
     • Intellectual Property Shuffle: They license their intellectual property (those vaccine secrets!) to offshore subsidiaries. 🌐
     • Ingredient Magic: The high-value-added active ingredients? Produced in factories in places like Ireland or Singapore. 🧪
     • Profit Pretense: They pretend the profit accrues to these offshore subsidiaries, even though the sales are back in the United States. 🤫

3. Legal, but a Tax Tango Nonetheless:

   • Yes, it’s all legal—tax law is like a labyrinth with secret passages. 🗝️
   • There are other nuances, too—acquisitions, debt, litigation—but the bottom line is this: Investors and companies want to waltz away with a good deal on their taxes. 💃

4. The Numbers, Please:

   • In recent years, the biggest pharmaceutical companies (including our vaccine stars) had an effective tax rate ranging from around 8% to 14%. That’s way lower than the nominal corporate tax rate of 21% that came into play during the Trump administration. 📊

So, my friend, while they’ve been saving lives with vaccines, they’ve also been doing some fancy tax footwork. It’s like watching a ballet where the prima ballerina wears a calculator as a tiara! 🩰

And hey, if you want to dive deeper into this tax pas de deux, feel free to explore the source. It’s like peeking behind the curtain during intermission! 

Now, what other mysteries shall we unravel together? A twist on climate change or a foxtrot through historical events?