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Coca-Cola said Friday 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 company said that the back taxes amount to $2.7 billion, which with interest makes the total owed “approximately $6.0 billion.
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