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Coke CEO Defends Foreign Licensees In $3.3B Tax Court Trial

Law360 (March 7, 2018, 8:01 PM EST) -- The CEO of Coca-Cola Co. said on Wednesday the company's foreign licensees were autonomous entities that made key business decisions, disputing the Internal Revenue Service's characterization of them as mere conduits for profit shifting, during the third day of a $3.3 billion transfer pricing trial at the U.S. Tax Court.

Coca-Cola's licensees were critical to thriving in a foreign country or region and played a major role in the company's success, Coca-Cola President and CEO James Quincey testified. Under direct examination from John B. Magee of Morgan Lewis &...
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