AstraZeneca Pays IRS $1.1 Billion To Settle Transfer Pricing Issues
March 31, 2011 in Transfer Pricing Report
U.K.-based AstraZeneca plc announced that it will pay the Internal Revenue Service $1.1 billion to settle all transfer pricing issues for 2000-10, according to a March 28 statement released by the company.
Astrazeneca also noted that the company settled with the IRS on the related valuation matter of a 2000 restructuring that followed the 1999 merger of Astra AB and Zeneca Group plc.
In addition to the IRS settlement, the company said that the U.S. and U.K. Competent Authorities have agreed to bilateral advance pricing agreements covering 2002-14….
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