Vector Wins Tax Case

Press Release – Vector Limited

The judgment in Vectors 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.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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