Coca-Cola Co. said Friday it will pay $6 billion in back taxes and interest to the Internal Revenue Service while it appeals a final federal tax court decision in a case dating back 17 years.
The Atlanta beverage giant said it will continue to fight and believes it will win the legal dispute stemming from taxes and interest the IRS maintains the company owes from 2007, 2008 and 2009.
“The company looks forward to the opportunity to begin the appellate process and, as part of that process, will pay the agreed-upon liability and interest,” it said in a statement. Coca-Cola spokesperson Scott Leith declined additional comment to The Associated Press.
U.S. Tax Court Judge Albert Lauber on Friday issued a two-sentence decision and order ending his look at the case. The dispute reached court in December 2015, shortly after the company said it notified the IRS that it owed $3.3 billion more in federal taxes and interest for those three years.
In its Friday statement, Coca-Cola accused the IRS of changing how it let the company calculate U.S. income based on profits amounting to more than $9 billion from foreign licensees and affiliates.
