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

 
• By Malcolm Spicer

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.

Perrigo Company PLC is confident the amount of back taxes it owes both Ireland and the US linked to its 2013 acquisition of Elan Corp. will be lowered under the countries’ agreement on resolving tax disputes if the Irish tax agency’s order to pay a nearly $2b levy there isn’t dismissed first.

The OTC private label market leader on 4 November said with both Ireland and the US imposing tax assessments on the same revenues – sales by Elan – tax agency officials from the two countries will, at the request of Perrigo, negotiate

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