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GlaxoSmithKline (Research Triangle Park, NC) has agreed to issue
the Internal Revenue Service (IRS) $3.4 billion to settle claims that
the company underpaid U.S. taxes since 1989 by shifting profits abroad.
It will be the largest payment the IRS has ever received to settle a tax
dispute.
COPYRIGHT 2006 Medicom International,
Inc. Reproduced with permission of the copyright holder. Further reproduction or distribution is prohibited without permission.
Copyright 2006, Gale Group. All rights
reserved. Gale Group is a Thomson Corporation Company.
NOTE: All illustrations and photos have been removed from this article.
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