In a statement released Tuesday, Boston Scientific Corp. said that the IRS is seeking $525.1 million, plus interest, for deficient tax payments relating to the company’s Guidant Corp. and subsidiary businesses.
The deficiency in payments from the Massachusetts company occurred in the 2001 through 2003 tax years. The company, which disagrees with the IRS’s assessment of deficiency, has said that the primary issue under dispute is “transfer pricing” involving technology licensing agreements between domestic and foreign subsidiaries of Guidant.
Boston Scientific Corp. disagrees with the “significant proposed adjustment” and with the “transfer pricing methodologies” used to calculate the deficiency.
