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Vector Wins Tax Case
MARKET RELEASE
29 August 2014
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
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