AstraZeneca fights HMRC over transfer pricing
January 20, 2009
A tax dispute between global pharmaceutical firm, AstraZeneca, and HM Revenues and Customs (HMRC) has been deferred until April 2010, with the outcome of the case expected to have an impact on multinationals and their transfer pricing regimes.
The dispute dates back to November 2007 when HMRC imposed an additional claim on the unpaid taxes on the profits of the company's foreign subsidiaries. But AstraZeneca believes it had adequately provided information for its transfer pricing audits.
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