Learn English: Coca-Cola's Big Tax Trouble (normal)

5 months, 2 weeks ago

Coca-Cola's Big Tax Trouble

Coca-Cola has been ordered to pay a huge $6 billion in back taxes and interest to the IRS.

The IRS claims Coca-Cola didn't pay enough taxes on its money made from selling drinks in other countries.

The dispute goes back to 2007-09, when the IRS argued that Coca-Cola should have reported higher income due to its international operations.

Coca-Cola plans to appeal the court's decision and will pay the agreed-upon amount while they fight for a different outcome.

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Source

Original: Fox Business

Tags

#Coca-Cola #IRS #Taxes #Tax Law #International Business

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