- Release Date: 29/08/14 16:28
- Summary: GENERAL: VCT: Vector Wins Tax Case
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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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