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Coca-Cola Faces $20 Billion Tax Dispute with IRS Over Transfer Pricing in Miami Federal Appeals Court

GateNews
Coca-Cola is facing a $20 billion tax dispute with the U.S. Internal Revenue Service (IRS) over transfer pricing issues, with the case now in the Miami Federal Appeals Court. The dispute stems from the 2007–2009 tax filing period and centers on how the multinational company allocated profits between its overseas subsidiaries and U.S. parent company. The U.S. Tax Court ruled in favor of the IRS in 2020, and Coca-Cola has already paid approximately $6 billion in taxes and interest as of late 2024 to mitigate accruing interest. The outcome is significant for multinational corporations globally; an IRS victory could intensify audits of similar profit-shifting structures used by technology and pharmaceutical companies.
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