Coca-Cola Spent $100 Million To Prove That Soda Isn't Bad For Your Health
Sep 24, 2015 11:20 AM EDT | By Martha Ignacio
Everyone now knows how bad soda can be for our bodies, but even this notion didn't stop Coca-Cola from spending over $100 million to try and prove that it isn't.
On Tuesday, Coca-Cola revealed "that it spent $118.6 million on health research and partnerships in the U.S. over the past five years," as reported by the Associated Press.
Here's the breakdown: Coca-Cola dropped $21.8 million on "scientific research," while the rest of the $96.8 million was spent on "health and well-being partnerships."
Yes, this includes the campaign, which was rolled out earlier this year, where the beverage giant teamed up with "fitness and nutrition experts" that claim soda to be a "healthy treat" or "snack idea."
A portion in the Coca-Cola website called "Our Commitment to Transparency" where it details all the organizations Coca-Cola has teamed up with, in addition to all the research studies the company has funded.
What's pretty funny about this tidbit is that the company "provided money" to organizations like The Obesity Society, the American Diabetes Association, the Juvenile Diabetes Research Foundation and the Healthy Weight Commitment Foundation.
Coca-Cola is even facing more trouble, as Bloomberg reports that the company owes approximately $3.3 billion in extra taxes, excluding interest, to the Internal Revenue Service.
The Internal Revenue Service's issuance of a notice "follows an audit of the tax years 2007 through 2009, Coca-Cola said in a regulatory filing.
Although the Internal Revenue Service has not ordered any penalties, Coca-Cola claims that "the assessment is without merit."
In a statement, Coca-Cola noted:
"We plan to pursue all administrative and judicial remedies necessary to resolve this matter. [...] The company has followed the same methodology for determining our U.S. taxable income from certain foreign company operations for nearly 30 years."
According to Eater, Coca-Cola is gearing up to face the tax notice in court.
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