VCT
29/08/2014 16:28
GENERAL
REL: 1628 HRS Vector Limited
GENERAL: VCT: Vector Wins Tax Case
The judgment in Vector's High court case against the Inland Revenue
Department has been released today. The case centred on a matter of
statutory interpretation of a specific section of the Tax Act.
The judgment has found in favour of Vector that a payment of around $53
million relating to access rights to Vector's CBD tunnel was not taxable.
Subject to any appeal process the effect is that Inland Revenue will now be
required to refund $7.6m of the tax Vector has already paid.
ENDS
End CA:00254619 For:VCT Type:GENERAL Time:2014-08-29 16:28:29
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