Teva Enters Agreement With Israel Tax Authority Resolving All Pending Litigation; Agrees To Pay Total Of $750M In Installments Between 2024 To 2029
Portfolio Pulse from Benzinga Newsdesk
Teva has reached an agreement with the Israel Tax Authority to resolve all pending litigation by agreeing to pay $750 million in installments from 2024 to 2029. Additionally, Teva will pay an extra 5%-7% in corporate taxes on any future dividends or equity repurchases, up to $500 million.
June 25, 2024 | 12:02 pm
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Teva has resolved its tax litigation with the Israel Tax Authority by agreeing to pay $750 million in installments from 2024 to 2029. The agreement also includes additional corporate taxes on future dividends or equity repurchases.
Resolving the tax litigation removes a significant legal overhang for Teva, allowing the company to focus on its growth strategy. The structured payment plan and additional taxes on dividends or repurchases provide clarity on future financial obligations.
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