Coca-Cola Appeals $2.6 Billion Transfer Pricing Tax Ruling (1)

Coca-Cola Co. is appealing a US Tax Court decision on a transfer pricing dispute related to its Brazilian affiliate companies that could cost it $2.6 billion in taxes and billions more in interest.

The company filed notice of appeal Tuesday. The Tax Court determined in July that Coca-Cola’s unpaid deficiencies for the three years at issue were $837 million in 2007, $844 million in 2008, and $923 million in 2009, in addition to interest that has yet to be assessed.

Arguments in the company’s appeal to the 11th US Circuit Court of Appeals haven’t yet been scheduled, and a ruling ...