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01 Jun 2009
Xilinx has lost a court ruling in a transfer pricing dispute against the Internal Revenue Service (IRS).
The US Court of Appeals reversed an earlier Tax Court hearing from 2005 involving the companies Irish subsidiary, Xilinx Ireland, and the allocation of research and development costs, according to webcpa.com
At the time, the court had agreed with Xilinx, but the IRS has now successfully appealed the ruling in a 2-1 decision.
The multinational does not expect the ruling to have any material impact on its future earnings. It is unclear how much money Xilinx is now liable to pay the IRS.
Further Reading:
Dixons contravenes transfer pricing rules
Arbitration not litigation will solve transfer pricing wrangles
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