IRS ask Coca-Cola to pay taxes of 3.3 billion dollars for period 2007-2009
The Coca-Cola Company has been notified by the IRS that it has to pay additional taxes of $ 3.3 billion, plus interest, for the financial period 2007-2009 as a result of the corporate practices to register a significant part of its profits outside the US where they are exempt from taxation.
Coca Cola asked to pay more taxes (pic: google)
IRS has not requested payment of penalties and the beverage company claims that the additional charges are not justified, according to Bloomberg.
US tax collection agency notified Coca-Cola that the case has already been handed over to its lawyers with recommendation to be held in court.
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The US opened litigations with online retailer Amazon and Microsoft due to intra-group transactions carried out by them.
Coca-Cola announced that 57% of total revenues last year came from outside the United States but when paying the taxes the company claimed that 83% of its profit before taxation was obtained in countries other than the United States.