APN wins adjournment in IRD tax avoidance challenge in High Court

Tue, 23 Feb 2016

By Fiona Rotherham Feb. 24 (BusinessDesk) - Australian publisher APN News and Media, publisher of the NZ Herald, has been granted an adjournment of its High Court challenge to an Inland Revenue Department finding it owes tax in relation to financing arrangements with its New Zealand subsidiary, Wilson & Horton. The case is the latest in a string involving the use of convertible notes to finance trans-Tasman acquisitions in the 2000s, all of which until now have either been lost or settled before they got to court. APN sought the adjour...

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