Senate Finance Committee Expands Amgen Tax Probe: Report

Senator Ron Wyden sent a letter to Amgen Inc AMGN asking what methods the company has used to pay an average effective tax rate of approximately 12% over the past four years .

Wyden's office provided a copy of the letter to Reuters. According to the letter, the US Senate Finance Committee is expanding its investigation into tax practices used by large corporations, including Amgen, Merck Co Inc MRK and AbbVie Inc AMGN. Related:Amgen to fight IRS over Whooping $10.7 Billion Tax Bill: Report. "We can confirm that Amgen has received a letter from Chairman Wyden regarding the company's tax practices. We are reviewing the requests for information contained in the letter and will respond to them," Amgen said. The Wyden letter also focuses on Amgen's operations in Puerto Rico. Senator Wyden asked the company to provide the committee with financial documents and other financial information by the end of the month. He also asked the company to provide any tax agreements it may have signed with Puerto Rican authorities, which could provide the company with a 0% tax rate in Puerto Rico. Price Action: AMGN shares were up 0.11% at $248.63 during Friday's last check trading session.

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