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Court Ruling On Perrigo Appeal Of Nearly $2Bn Irish Tax Debt From Elan Deal Due With Q3 Results

Executive Summary

Perrigo says on 4 November, Irish High Court will publish decision from a trial on the firm’s challenge to Irish Office of the Revenue Commissioners’ order to pay additional taxes from its acquisition of Elan. Perrigo moved its Q3 earnings briefing scheduled for 8 a.m. EDT the same day to 4:30 p.m.

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With Irish Tax Assessment Upheld, Perrigo Plumbs US-Ireland Pact To Lower Debt

With both Ireland and US imposing tax assessments on same revenues – sales by Elan – tax agency officials from the countries will, at the request of Perrigo, negotiate whether both or one will demand payment and whether the amount will be lowered.

No Decisions Yet In Perrigo's Disputes With Ireland, US Over Tax Questions From Elan Merger

A court in Dublin has considered Perirrgo's challenge to Ireland tax authorities' ’ 2018 order to pay $1.9bn additional taxes from its 2013 acquisition of Elan that established it as an Irish firm. “We're just probably within 6 months now that we should get some kind of an answer in that regard,” says CEO Murray Kessler.

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