Coca-Cola faces $6 billion tax penalty by US Court

6 billion dollars: this is how much Coca Cola Company is required to pay for unpaid taxes from 2007 to 2009, as established by a recent ruling. But the multinational is ready to appeal

ongoing legal battle for coca-cola over $6 billion tax dispute

Coca-Cola Company, notorious for being one of the world’s major polluters, is again making headlines, this time due to a substantial penalty imposed by the US Tax Court. The company has been ordered to pay a staggering $6 billion, including interest, in a case brought by the US Internal Revenue Service (IRS). This amount covers taxes on foreign sales that Coca-Cola allegedly failed to pay between 2007 and 2009.

However, the beverage giant has announced its intention to appeal the decision to assert its position.

Coca-Cola to appeal

Coca-Cola firmly believes that the IRS and the US Tax Court have misinterpreted and misapplied the relevant regulations and will vigorously defend its stance on appeal. The multinational corporation stated in a press release,

“Coca-Cola believes strongly that the IRS and the US Tax Court have improperly interpreted and applied the regulations in this case and will vigorously defend its position on appeal.” The company looks forward to the opportunity to commence the appeals process and, as part of that process, will pay the agreed liability and interest to the IRS. In line with its goal of maximum transparency, the company also provided guidance on the potential outcome should it not succeed in its appeal.

Coca-Cola Company, which is confident it will prevail in the nearly 20-year legal dispute, will have 90 days to file a notice of appeal with the US Court.

Source: Coca Cola Company

Fighting river pollution in Bangkok: a monk and an innovative solution

A monk and his new ally are making a difference for one of Thailand's main rivers and among the most polluted in the country and the world. Together they have joined forces and are cleaning the waterway from plastic waste

@Seven Clean Seas/Facebook

Along its banks float small and large boats, commercial activities, tourists, but also piles of garbage and floating plastic. The Chao Phraya River, which flows through Bangkok, is heavily polluted.

The Thai monk Phra Mahapranom Dhammalangkaro knows this well. For years, he has been trying to clean up the surrounding countryside and the river’s waters from all that waste since he has been the spiritual leader of the Chak Daeng temple.

These scenes are unfortunately common. What is uncommon and arousing much curiosity among locals and visitors is the presence of a new visitor to the Chao Phraya.

It’s called HIPPO, and it’s an ally of Dhammalangkaro. HIPPO, which stands for High Impact Plastic Pollution Remover, is a system developed by the Seven Clean Seas association. They decided to support the monk in his mission.

HIPPO aims to combat plastic pollution in the Thai river with high impact. It captures plastic waste that ends up in the water before it can reach the ocean.

Using a solar-powered conveyor belt, HIPPO collects and sorts the waste into a hidden bin, making an initial distinction between recyclable and non-recyclable materials. The association’s team then takes care of delivering the waste to sorting and recycling centers.

Giving plastic waste a new life

The journey of the plastic doesn’t stop here. The collected load is transformed into furniture, bricks, and tiles, giving new life to what was once just waste. Part of the plastic finally “returns” to the Chak Daeng temple in a new form, literally. A factory turns it into fabric for monks’ robes, bags, and other accessories.

The HIPPO boat aims to clean the Thai river of plastic on a large scale, raising public awareness about the devastating impact of the world’s number one pollutant.

A significant environmental threat

It is estimated that about 8.8 million pounds of plastic are carried annually by the Chao Phraya to the sea, posing a serious threat to the environment and biodiversity. This is the reason behind the initiative of the association and the monk, who want to make a difference for the planet.

Source: Seven Clean Seas