This content is from: Direct Tax

Glaxo challenges $2.7 billion transfer pricing claim

GlaxoSmithKline Holdings on April 2 2004 filed a petition in the US Tax Court contesting a multibillion-dollar transfer pricing claim. The US Internal Revenue Service (IRS) made its claim in January against Glaxo US, a US subsidiary of the UK-based pharmaceutical manufacturer GlaxoSmithKline.

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