25 February 2019 - Deborah Wilkes
Perrigo says the Irish High Court has given it the go-ahead to file for a judicial review of a tax claim of EUR1.64 billion (USD1.87 billion) issued by the Irish Office of the Revenue Commissioners.
The claim, which was announced on 29 November 2018, involves a deal in 2013 (click here to read the News story).
Commenting at the time, Perrigo said it "strongly disagrees with this assessment and believes that the Notice of Amended Assessment is without merit and incorrect as a matter of law".
Perrigo filed an appeal with the Tax Appeals Commission on 27 December 2018, but this has been stayed pending resolution of the judicial review.
The company said the judicial review was challenging the ability of Irish Revenue to issue the assessment, not the merits of the Notice of Amended Assessment itself.
Perrigo's president and chief executive officer Murray Kessler commented: "Following a detailed review of the facts, we feel strongly that Elan Pharma, predecessor to Perrigo, had a legitimate expectation, based on an approximate 20-year history of tax filings in relation to the company's trade in intellectual property, that Irish Revenue would not, many years later, recharacterise that trade and issue an assessment in this manner."
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