The soft-drink maker has been hiding “astronomical levels” of profit in low-tax countries including Ireland to shield it from the US Internal Revenue Service, according to a withering court judgment, which the company is planning to appeal against later this year.
Alex Martin, transfer pricing specialist at the tax advisory group KBKG, said other companies were watching closely. “This decision could be a template for the IRS to audit other US companies with profitable subsidiaries.”
https://www.ft.com/content/cd05fb4b-8e67-4996-a5f3-bf1b8ccdf3af