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

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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

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