Getting your player ready...
Molson Coors Brewing Co. understated its income-tax benefit in the first quarter of 2005 by $12.4 million, the company said in a filing with the Securities and Exchange Commission on Friday.
The company, which has its U.S. headquarters in Denver, also said it has hired additional tax staff, including a new vice president of tax and two additional senior-level tax managers.
The company is also implementing additional procedures to ensure adequate levels of review of its taxes and will be implementing new software that will automate and improve controls.
