date:Sep 27, 2012
PepsiCo has won a US Tax Court judgment against the US Internal Revenue Service (IRS) which claimed the firm owed it circa. $363m in unpaid tax relating to operations in Europe and Puerto Rico.
The beverage and food multinational sued the IRS in 2009, after the service sent the firm a bill alleging that millions were owed in unpaid tax.
The IRS claimed that payments sent from subsidiaries in Holland constituted debt interest on promissory notes handed out by PepsiCo in the US, and were thus su