a. How can tax on Pfizer's income be negative? Does it mean Pfizer saved that much money or they received that much amount from the government in Cash? ( 300 words)

b. What is the effective rate of tax for Pfizer? Can it be negative? Why? ( 250 words)

c. Give us brief details of what sort of tax benefits and tax expenses impacted FY 2017's Provision/(benefit) for taxes on income? (300 words)

Pfizer Inc. and Tax Cuts Act! In November 2015, CEO lan Read was watching how the young accountant sitting in front of him was getting a little nervous. It was getting dark on a cold day in New York City. Mr. Read himself was a chartered accountant and he had been on the other side of the table, therefore he could very well gauge the nervousness of this young accountant. His right hand man Albert Bourla, serving as COO was a little skeptical of the proposal, he expressed his concerns and asked tough questions, that's why the young accountant was sweating Mr. Read got up from his soft leather chair and went to pour himself a hot cup of matcha latte, looking at the NYC Skyline from his corner office on 126th floor. He had seen a couple of big shifts in politics and tax laws in his career. After all he had been working for Pfizer for more than 36 years now. His colleague Mr. Bourla's concerns were legitimate though "Will he get the enough votes? Do you think, if he succeeds he will deliver on the tax cuts?" Mr. Bourla asked. The young accountant had put up a scenario where Republican nominee Donald J. Trump wins the 2016 US Elections and delivers on the promise of granting tax cuts to big corporates. A signature policy of almost all Republicans, 'Trickle Down Economics', as they called it. Trump had just disclosed details of his tax cuts and all the things he was willing to do for corporates. Mr. Bourla was unable to trust this scenario, but if it became a reality it'd mean they will have to act fast and get as much tax cuts as they can. Taking a sip of his matcha latte, a new fascination of Mr. Read from his latest visit to Osaka Castle in Japan, he looked at Mr. Bourla. Now 54 years old Greek veterinary doctor had stepped the corporate ladder fast and reached up to the position of COO. Mr. Read liked Bourla, he eventually wanted Bourla to take over after he retires from his post of CEO having served for 6 years now. Pfizer Inc. had always donated millions of dollars to SuperPACs of Republicans and Democrats alike; politics after all is a business and no business this big can function in a vacuum. It's a symbiotic environment and all players must play the game. Mr. Read knew this and he also knew one more thing which most people forget when it comes to US Presidential Election. It's not the popularity vote that counts, it's the Electoral College's vote that decides the next president. He knew this from the year 2000 election of George W. Bush vs Al Gore. Pfizer Inc. and Tax Cuts Act! In November 2015, CEO lan Read was watching how the young accountant sitting in front of him was getting a little nervous. It was getting dark on a cold day in New York City. Mr. Read himself was a chartered accountant and he had been on the other side of the table, therefore he could very well gauge the nervousness of this young accountant. His right hand man Albert Bourla, serving as COO was a little skeptical of the proposal, he expressed his concerns and asked tough questions, that's why the young accountant was sweating Mr. Read got up from his soft leather chair and went to pour himself a hot cup of matcha latte, looking at the NYC Skyline from his corner office on 126th floor. He had seen a couple of big shifts in politics and tax laws in his career. After all he had been working for Pfizer for more than 36 years now. His colleague Mr. Bourla's concerns were legitimate though "Will he get the enough votes? Do you think, if he succeeds he will deliver on the tax cuts?" Mr. Bourla asked. The young accountant had put up a scenario where Republican nominee Donald J. Trump wins the 2016 US Elections and delivers on the promise of granting tax cuts to big corporates. A signature policy of almost all Republicans, 'Trickle Down Economics', as they called it. Trump had just disclosed details of his tax cuts and all the things he was willing to do for corporates. Mr. Bourla was unable to trust this scenario, but if it became a reality it'd mean they will have to act fast and get as much tax cuts as they can. Taking a sip of his matcha latte, a new fascination of Mr. Read from his latest visit to Osaka Castle in Japan, he looked at Mr. Bourla. Now 54 years old Greek veterinary doctor had stepped the corporate ladder fast and reached up to the position of COO. Mr. Read liked Bourla, he eventually wanted Bourla to take over after he retires from his post of CEO having served for 6 years now. Pfizer Inc. had always donated millions of dollars to SuperPACs of Republicans and Democrats alike; politics after all is a business and no business this big can function in a vacuum. It's a symbiotic environment and all players must play the game. Mr. Read knew this and he also knew one more thing which most people forget when it comes to US Presidential Election. It's not the popularity vote that counts, it's the Electoral College's vote that decides the next president. He knew this from the year 2000 election of George W. Bush vs Al Gore