IRS Victory is a Landmark Decision Against Multinationals Shifting Profits Out of the U.S.
PASADENA, CA / ACCESSWIRE / August 19, 2024 / KBKG, a nationwide leading provider of specialized tax services and solutions, recently presented its expert analysis surrounding a $6 billion Coca-Cola tax court case. As one of the nation's few Transfer Pricing experts, KBKG Principal, Alex Martin, was featured in the Financial Times and Bloomberg Law for his in-depth knowledge on the complex issues of this field.
Martin's expertise was sought regarding a $6 billion court case surrounding Coca-Cola's Transfer Pricing practices, which is expected to have widespread ramifications for multinational corporations. Transfer Pricing regulations govern the cross-border prices and profits of multinational companies.
Through shifting profits to low-tax jurisdictions, Judge Albert Lauber ruled that Coca-Cola had underpaid U.S. taxes by billions of dollars. The Court concluded profit levels in several foreign subsidiaries, including Coca-Cola Ireland, were "astronomical." The ruling, which follows years of legal dispute, is expected to set a legal precedent for increased scrutiny of U.S. multinationals.
"Being asked to respond to a complicated court case like this is a reflection of the hard work KBKG has put into becoming a trusted advisor in the Transfer Pricing space," Martin said. "Multinational companies need to understand the underlying principles of managing Transfer Pricing risks. If an experienced judge goes out of his way to tell Coca-Cola they are relying on 'hope', I struggle to see why the IRS would settle for pennies on the dollar."
Martin leads KBKG's Transfer Pricing services and possesses more than 25 years of experience in the field, which has resulted in KBKG being named one of the world's leading Transfer Pricing practices by the International Tax Review for three consecutive years.
He is part of KBKG's team of industry thought leaders who are looked upon as subject matter experts across a variety of specialty tax sectors.
Taxpayers consistently rely on KBKG to help them navigate complex tax issues such as the R&D Tax Credit for startups and large businesses, Cost Segregation for real estate investors, the 179D Tax Deduction for architects designing sustainable buildings, and more.
About KBKG
Established in 1999 with offices across the U.S., KBKG provides turn-key tax solutions to CPAs and businesses, including Research & Development Tax Credits, Cost Segregation, Green Building Tax Incentives (179D Deductions and 45L Tax Credits), Transfer Pricing for multinational businesses, Employee Retention Credits (ERC) and more. KBKG has offices established throughout the country with employees located nationwide to better assist its partners and clients.
For more information about KBKG, please visit KBKG.com.
Contact Information
Ryan Levine
Marketing Communications Specialist
ryan.levine@kbkg.com
SOURCE: KBKG
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