SAN FRANCISCO — Attorneys from Baker & McKenzie in Palo Alto and Chicago are celebrating after beating the Internal Revenue Service in a complicated transfer pricing case that’s been closely watched by tech companies and international tax lawyers.
The case involved Cupertino-based Veritas Software Corp., which was acquired by Symantec Corp. in 2005. In 1999, Veritas transferred intellectual property to a wholly-owned subsidiary in Ireland, which paid Veritas $118 million as part of a cost-sharing agreement.
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