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Ann: Change of Financial Year End to 31 December, page-3

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happy Hippy

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20/11/14

19:11

Post #: 14325244
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Originally posted by philh9 ↑

I guess one should expect this, being a good corporate citizen who may shortly owe an arm of the Government a great deal of money plus some complicated tax arrangements, perhaps they thought it would be good idea to quickly convert to the tax year in the country of operation, what do you think?

Interesting timing, perhaps? But expected, as Kalenn had pointed out it was raised at the AGM, but anyway it should not be a real surprise given that Banco Votorantim is the lead syndicator in the $70m funding deal and as some of us know Banco Votorantim is 50% owned by Banco do Brasil SA which just happens to be controlled by the Brazilian government. I am sure the ATO would like similar arrangements were if forking out cash from an arm of a Government controlled entity, as we know only so much tax to go around, however some countries take less of your money, a nice time for me to introduce an interesting link, enjoy if you can.

http://www.kpmg.com/global/en/issue...ional-executives/brazil/pages/income-tax.aspx

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This ann. should see the SP shoot up to 7.9 cents tomorrow

AVB Price at posting: 8.0¢ Sentiment: Hold Disclosure: Held
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