📈 69% of S&P 500 stocks beating the index - a historic record! Pick the best ones with AI.See top stocks

BRIEF-Songa Offshore settles Australian tax dispute

Published 07/09/2015, 04:25 pm
Updated 07/09/2015, 04:27 pm
© Reuters.  BRIEF-Songa Offshore settles Australian tax dispute

Sept 7 (Reuters) - Songa Offshore SONGA.OL

* Has agreed to make a cash payment of AUD 1.2 million (approximately USD 0.8 million) to settle a claim in relation to the global restructuring implemented in May 2009, where the company in Australia changed from an owner operated structure to a bareboat structure

* A corresponding provision was made in the second quarter 2015 interim financial statement

* The potential liability for the primary withholding tax avoidance case for the 2009-2011 years was estimated at AUD 88.8 million, inclusive of interest and penalties. The case also included an alternative income tax avoidance case, for which the potential liability for the 2009-2011 years was estimated at AUD 24.2 million, inclusive of penalties and interest Source text for Eikon: ID:nHUG8xJt93 Further company coverage: PLCS.OL

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.