Transfer Pricing In A Global Economy

In September 2006, the Internal Revenue Service and GlaxoSmithKline entered into an agreement to settle transfer pricing disputes covering the years 1989 to 2005. The $5.2 billion agreement, whereby Glaxo paid $3.4 billion in back taxes plus dropped a claim for a $1.8 billion tax refund, was the lar...

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Bibliographic Details
Published in:Journal of business case studies 2013-09, Vol.9 (5), p.359-366
Main Authors: Ulmer, Jin, Ethridge, Jack, Marsh, Treba
Format: Article
Language:English
Subjects:
Case studies
Customer services
Double taxation
Global economy
Internal customers
Inventory
Jurisdiction
Manufacturing
Pharmaceutical industry
Plumbing
Pricing policies
Profit margins
Profitability
Profits
Related party transactions
Settlements & damages
Tax rates
Tax refunds
Tax treaties
Transfer pricing
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Summary:In September 2006, the Internal Revenue Service and GlaxoSmithKline entered into an agreement to settle transfer pricing disputes covering the years 1989 to 2005. The $5.2 billion agreement, whereby Glaxo paid $3.4 billion in back taxes plus dropped a claim for a $1.8 billion tax refund, was the largest settlement in IRS history. [PUBLICATION ABSTRACT]
ISSN:1555-3353
2157-8826
DOI:10.19030/jbcs.v9i5.8060