€ 398m tax bill to drug giant Takeda confirmed


Japanese pharmaceutical giant Takeda said the Tax Appeals Commission had upheld Revenue’s position on a $ 398 million tax assessment it is pursuing in connection with severance pay that Shire received from AbbVie.

lease, which Takeda acquired in 2019 for approximately $ 60 billion (€ 51 billion), received a tax assessment of € 398 million in November 2018. The assessment sought to tax the breakage fee of $ 1.635 billion. dollars that Shire received from AbbVie. The charges were related to a canceled offer worth $ 54 billion made by AbbVie to acquire Shire in 2014.

Takeda appealed the Revenue assessment and at the end of 2020 a hearing was held before the Irish Tax Appeal Board.

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