News: AWC Alumina Updates On Alcoa Of Australia Ltd Taxation Assessments

July 8 (Reuters) - Alumina Ltd (AWC) :

• UPDATES ON ALCOA OF AUSTRALIA LTD TAXATION ASSESSMENTS
• ATO NOW ISSUED AOA WITH NOTICES OF ASSESSMENT ASSERT CLAIMS FOR ADDITIONAL INCOME TAX PAYABLE BY AOA OF ABOUT A$214 MILLION
• NOTICES ALSO INCLUDE CLAIMS FOR COMPOUNDED INTEREST ON PRIMARY TAX AMOUNT TOTALLING ABOUT A$707 MILLION
• AOA EXPECTS TO PAY 50% OF ASSESSED PRIMARY INCOME TAX AMOUNT OUT OF CASH FLOWS IN Q3 OF 2020
• AUSTRALIAN TAXATION OFFICE (ATO) ALSO EXPECTED TO ASSESS ADMINISTRATIVE PENALTIES
• AOA WILL DEFEND ITS POSITION IN RESPECT OF ATO'S NOTICES