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Showing content with the highest reputation on 08/04/2024 in all areas

  1. I was told the same thing as Lee B.
    2 points
  2. "Coca-Cola said Friday it plans to pay a tax penalty worth $6 billion while it pursues an appeal 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." "The case dates to 2015 when Coca-Cola received a notice from the IRS contesting the company's accounting of income from foreign affiliates over the need for "arms-length" pricing of transactions with these entities, Coca-Cola said in a securities filing." The big international conglomerates have been very adept at manipulating our tax system for decades Inquiring minds might ask, why does Apple with its Billions of dollars in profits have a US Federal effective tax rate of only 8% ???
    1 point
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