Coca-Cola announced on Friday its plan to pay a $6 billion tax penalty as it continues to appeal a longstanding dispute with the IRS.
The company expressed confidence in winning the appeal, stating, “Coca-Cola believes it will prevail on appeal.” This follows a US tax court ruling on July 31, covering the years 2007, 2008, and 2009. The back taxes amount to $2.7 billion, with interest bringing the total owed to approximately $6 billion.
