Coca-Cola appeals a potential $20 billion tax liability...

Coca-Cola appeals a potential $20 billion tax liability before the U.S. Court of Appeals for the Eleventh Circuit, challenging IRS claims over transfer pricing and foreign profit allocation. The dispute centers on whether Coca-Cola’s foreign affiliates underpay for the use of intellectual property, reducing taxable income in the United States. The case carries wider importance for multinational tax enforcement, especially after the 2024 rejection of Chevron deference. Its outcome may shape how courts treat IRS “blocked income” rules and future corporate profit-shifting disputes.

Saturday, 20 June, 2026