Coca-Cola on Friday says it plans to pay a tax penalty worth $6 billion while it pursues an appeal that it expects to win in a long-running dispute with the Internal Revenue Service.
“The company believes it will prevail on appeal,” Coca-Cola said of a US tax court ruling dated July 31 that covered the years 2007, 2008 and 2009.
The back taxes amount to $2.7 billion, which with interest makes the total owed “approximately $6.0 billion,” the company said.
