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Coca-Cola Taxes (sh.itjust.works)

submitted 3 months ago* (last edited 3 months ago) by [email protected] to c/[email protected]

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https://mastodon.social/@MEActNOW/112956139620337300

News: https://www.forbes.com/sites/kellyphillipserb/2024/08/06/coca-cola-could-face-16-billion-irs-bill-after-its-tax-court-arguments-fall-flat/

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[–] [email protected] 14 points 3 months ago (1 children)

In a Securities and Exchange Commission filing in 2015, Coca-Cola said it had been following the same method to calculate its taxable U.S. income from foreign affiliates for nearly 30 years.

So as tax laws changed, Coca-Cola just kept doing the same thing. Just go ahead and admit to fraud, I guess. Interesting strategy.

[–] [email protected] 7 points 3 months ago (1 children)

What, do you expect the Coca-Cola corporation to hire accountants and lawyers to keep track of changes in tax law?

[–] [email protected] 4 points 3 months ago

you hire ONE accountant and have to pay the govt 16bn