Although we don't hear good news all that often from PGI, they deserve a pat on the back for this one. They had the fortitude to tackle this issue even though it was going to be difficult and with some risk that the result it wouldn't go their way. It should also make it easier to wind-up the Las Lagunas operation more cost-effectively (i.e. more left over for shareholders or future projects.)
Ann: INCOME TAX EXEMPTION FOR SUBSIDIARIES - RULING, page-3
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