02:15 PM EDT, 08/01/2024 (MT Newswires) -- Coca-Cola's (KO) transfer-pricing dispute could cost it $2.6 billion in taxes, Bloomberg reported Thursday, citing filings with the US Tax Court.

The US government assessed unpaid deficiencies in 2007, 2008 and 2009 of $837 million, $844 million and $923 million, respectively, according to the report. The company has been contesting a transfer-pricing adjustment in Brazil, and the government said Coca-Cola's affiliates have not paid a sufficient amount for its intangible property to produce and market its products, the report said.

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