Why Coca-Cola and the US taxman are at war over a $20bn tax bill

Coca-Cola and the Internal Revenue Service (IRS) of the United States will face off in a Florida court this week in the latest episode of a decades-long legal battle over the beverage giant’s tax liability on overseas profits.

The Atlanta, Georgia-based company and the US tax service will begin oral arguments on Thursday in a dispute that centres on transfer pricing – the practice of setting pri...