Teva To Settle Litigation With Israel Tax Authority

(RTTNews) - Teva Pharmaceutical Industries (TEVA) has entered an agreement with the Israel Tax Authority resolving all pending litigation with respect to taxes payable for the company's taxable years 2008-2020. The company will pay a total of $750 million in installments between 2024 to 2029. Teva said the announcement has no impact on its 2024 financial outlook, which the company reaffirmed.

Also, the parties agreed that in the future event Teva pays dividends on, or repurchases, its equity interests, it will pay an additional 5%-7% of the amount of such dividends or repurchases in corporate taxes, up to a maximum tax payment amount of approximately $500 million.

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