The U.S. drug company Pfizer is considering a new home: Britain. (Andrew Kelly/Reuters)

It's no secret that one of Pfizer's motivations in its $100 billion bid for AstraZeneca is to save big on U.S. taxes. By purchasing a foreign company with company cash being held overseas, the pharmaceutical giant avoids getting hit by the U.S. federal corporate tax rate of 35 percent.

As part of the deal, Pfizer is also seeking to incorporate in Britain, a break from the company's American roots — and the American corporate tax rate. But Pfizer isn't picking just any country as a potential new home for incorporation. The British government has been tweaking its tax code in recent years to make it easier for businesses to lower their tax bills — especially for multinationals with byzantine accounting structures. And in the pantheon of companies that do this, few are more adept than tech and pharmaceutical companies. Companies exactly like Pfizer

more @ www.washingtonpost.com/blogs/wonkblog/wp/2014/04/29/why-pfizer-wants-to-effectively-renounce-its-u-s-citizenship/