Philadelphia Inquirer, The - Glaxo will pay billions to IRS
Monday, December 29th, 2008In the biggest tax settlement in U.S. history, the drug giant GlaxoSmithKline P.L.C. has agreed to pay $3.4 billion to the federal government in a case with tax implications for other multinational corporations. GlaxoSmithKline, based in London with a U.S. headquarters in Philadelphia, said it was settling to avoid a far bigger potential hit from allegations that it undervalued its U.S.
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