Why Coca-Cola and the US taxman are at war over a $20bn tax bill (opens original article in a new tab)

Coca-Cola and the US IRS are facing off in a Florida court over a $20bn tax bill related to transfer pricing, with implications for how multinational corporations are taxed on overseas profits.

• Coca-Cola and the IRS are in a legal battle over a $20bn tax bill related to transfer pricing.
• The case involves disputes over how profits from foreign subsidiaries are taxed and could set a precedent for other multinational corporations.
• The IRS has historically struggled with transfer pricing cases, but this case represents a potential shift in their legal strategy.