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Walgreens Faces Massive International Revenue Service Bill
Transfer Pricing Woes for Walgreens
According to Entrepreneur, big company Walgreens Boots Alliance is in trouble with the International Revenue Service this tax season. They’ve been hit with a huge $2.7 billion bill after audits found problems with how they priced things between 2014 and 2017. This kind of pricing called transfer pricing helps companies manage their taxes better.
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$2.7B Bill of International Revenue Service Slaps Walgreens Boots Alliance Amid Transfer Pricing Audit: Company Vows to Fight Back! (PHOTO: Crain’s Chicago Business)
Walgreens Stands Firm Amid International Revenue Service Probe
Despite receiving a hefty bill from the International Revenue Service over transfer pricing issues Walgreens vows to challenge the findings strongly confident in their position. Other major corporations like Meta, Apple, and Microsoft also face International Revenue Service scrutiny over similar matters. Amidst financial struggles including a $6.9 billion loss due to legal issues Walgreens aims to cut costs by $1 billion including the closure of 60 clinics.
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