Tag: GlaxoSmithKline

US vs GlaxoSmithKline Holdings, September 2006, IR-2006-142

US vs GlaxoSmithKline Holdings, September 2006, IR-2006-142

In September 2006 the Internal Revenue Service announced that it has successfully resolved a transfer pricing dispute with Glaxo SmithKline. Under the settlement agreement, GSK will pay the Internal Revenue Service approximately $3.4 billion, and will abandon its claim seeking a refund of $1.8 billion in overpaid income taxes, as part of an agreement to resolve the parties’ long-running  transfer pricing dispute for the tax years 1989 through 2005. See also the GlaxoSmithKlein decision from july 2001 The IRS announcement US glaxosmithkline_no_5750-04_2006-irs__settlement ... Continue to full case