This is an Engineers explanation of tax laws hence i stand to be corrected.
Akara is a subsidiary of KCN
KCN has accrued 700m in losses which may be offset against any profit KCN makes. The profit Akara makes is subject to Thai laws but the profit KCN makes is subject to AUS tax laws.
At the end of the day it comes down to when/if Akara is able to report their assets at a going rate and when/if Akara make a profit and after the Thai tax laws and tax concesssions are taken into regard profits of Akara will be distributed to KCN the parent company in Australia and as such AUS tax laws will prevail and the 700m in losses comes into the equation before KCN pays an AUS tax.
In short KCN could increase their assets (cash in bank and plant and equipment etc) by $700m before they have to pay tax in AUS.
In summary, fully franked dividends (and/or a special distribution) coming to AUS shareholders very soon.
This is an Engineers explanation of tax laws hence i stand to be...
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