Coca-Cola Says IRS Is Demanding $3.3 Billion in Taxes Following Audit
- 9 years ago
Cola Co. received notice from the Internal Revenue Service that it owes about $3.3 billion in extra taxes, plus interest, becoming the latest global company to clash with the agency over profits booked in foreign countries.
The IRS's move follows an audit of the tax years 2007 through 2009, Coca-Cola said in a regulatory filing posted Friday.
"We plan to pursue all administrative and judicial remedies necessary to resolve this matter," Coca-Cola said in a separate statement on Friday.
"The company has followed the same methodology for determining our U.S. taxable income from certain foreign company operations for nearly 30 years."
The IRS's move follows an audit of the tax years 2007 through 2009, Coca-Cola said in a regulatory filing posted Friday.
"We plan to pursue all administrative and judicial remedies necessary to resolve this matter," Coca-Cola said in a separate statement on Friday.
"The company has followed the same methodology for determining our U.S. taxable income from certain foreign company operations for nearly 30 years."