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发帖数: 29846 | 1 Coca-Cola has $26.9 billion in foreign earnings untaxed in the U.S.
Ruchika Tulshyan
The Coca-Cola Co. (NYSE: KO) disclosed its foreign undistributed earnings
amounted to $26.9 billion at the end of 2012.
This was up 15 percent from $23.5 billion at the end of 2011, according to
its annual report filed Feb. 27 with the Securities and Exchange Commission.
These earnings are exempt from U.S. federal and state taxes.
Coca-Cola was the only Georgia company cited in a Georgia consumer group
study Feb. 5 that found the state lost $569 million in corporate income
taxes in 2011 from companies using offshore tax havens.
A Georgia Public Interest Research Group Education Fund study released
earlier this month said: “States automatically lose billions of dollars in
revenue each year simply because their tax codes are closely linked to
federal tax codes. When multinational firms shift the reporting of profits
offshore on their federal taxes, those profits go unreported for state tax
purposes too.”
The Atlanta-based beverage giant reported Feb. 12 its profit grew 5 percent
to $9 billion in 2012, boosted by worldwide volume growth of 4 percent.
Coca-Cola sent a statement to Atlanta Business Chronicle after presstime on
Wednesday:
The Coca-Cola Company pays all required taxes in the U.S. and in every
country in which our subsidiaries operate.
As a global enterprise with operations in more than 200 countries – and
with approximately 80% of our business conducted outside of the United
States – we pay a significant amount of taxes overseas and continue to
reinvest overseas as we grow our international business. Our effective
corporate income tax rate before special items is currently about 24% based
on our worldwide operations.
In 2012, the Company had worldwide income tax expense of approximately $2.09
billion (USD) reflecting current income tax liability globally to
governments where we operate. In 2011, we had worldwide income tax expense
of approximately $1.78 billion (USD).
Our independent bottling companies also pay significant amounts of taxes
across the globe. |
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