Reported 2 months ago
Coca-Cola has announced it will pay $6 billion in back taxes to the IRS while appealing a federal tax court ruling concerning a dispute dating back 17 years. The company claims the IRS miscalculated its taxable income from foreign affiliates and asserts its intention to fight the decision, believing it can win the appeal. Coca-Cola has 90 days to file the appeal and has raised its sales guidance after a strong second quarter.
Source: YAHOO