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Teva Agrees $750m Deal To Draw A Line Under Israeli Tax Tussle

Agreement Also Stipulates Further Payment On Certain Dividends, Share Repurchase

 
• By Dean Rudge

Teva enjoyed a favorable tax status for years in its domestic Israel. However, after the firm battled in court against challenges to its historic tax payments, Teva has now agreed a three-quarters-of-a-billion dollar settlement agreement with the Israel Tax Authority.

Wallet with US Dollars casting a shadow of tax, taxes or taxation
• Source: Alamy (incamerastock / Alamy Stock Phot/Alamy Stock Photo)

Teva Pharmaceutical Industries Ltd. will make payments to its domestic Israel totaling $750m over the next five years to settle pending legal action over more than a decade’s worth of taxes.

The terms of Teva’s agreement with the Israel Tax Authority resolve all pending litigation with respect to taxes payable

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