Reported 2 months ago
Coca-Cola Co. plans to appeal a US court ruling that affirmed a $6 billion tax claim from the IRS, stemming from a $3.3 billion tax bill for the years 2007 to 2009. The company argues the IRS misinterpreted regulations and believes it will successfully defend its position in the appeal. Despite a challenging legal landscape, Coca-Cola reported a 3% increase in net revenues for the first half of the year.
Source: YAHOO