Updated / Tuesday, 19 Jan 2021
08:58
AbbVie brings precautionary High Court action against Revenue arising from a €587m tax bill served on it after it bought Allergen
Pharmaceutical giant AbbVie has brought a precautionary High Court action against Revenue arising from a €587m tax bill served on it after it acquired Allergen.
The €587m was reduced to zero liability on appeal to a Tax Appeals Commissioner (TAC).
Revenue has appealed that decision to the High Court, arguing the commissioner did not have the jurisdiction to make that ruling.
The court heard that last year AbbVie acquired pharmaceutical company Allergan, which was headquartered and registered in Dublin, for $63 billion in return for cash and shares in AbbVie.