Coca-Cola Appeal of $882 Million Tax Ruling Poses Challenges (2)

Coca-Cola Co. disagrees with a US Tax Court ruling that could cost it $882 million, but tax observers say it could be challenging for the company to get it overturned on appeal.

The court’s ruling Wednesday upheld an $882 million transfer-pricing adjustment in Brazil that the beverage giant was contesting. In a statement Thursday, Coca-Cola said “we disagree with the court’s interpretation of the facts and law in this case.”

But observers said the court’s February ruling in a case involving 3M Co., which is separate from the Coca-Cola case but dealt with similar issues, had left it likely that ...