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July 5, 1993

IRS VICTORY FOR INTEL…

By CBR Staff Writer

Intel Corp says it has won an important tax ruling in a long-running legal battle with the Internal Revenue Service: the US Tax Court in Washington ruled in its favour in a dispute over how much of a company’s profits on products made in America and sold abroad are taxable in the United States; the court essentially gave us a fairly clear victory, Ray Rossi, manager of external tax affairs at Intel, told Reuters, noting that the dispute had lasted several years; the revenue men had claimed that Intel owed $35m in additional tax for the period 1978 to 1980 as a result of this disagreement and a dispute over another secondary issue – Intel lost on the other issue, involving the application of research expense allocation rules to a company set up to help with exports, but Intel doesn’t expect to have to pay any additional taxes.

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