IRD should have doubled claim against Watson's Cullen Group - Professor

Mon, 20 May 2019

By Jenny Ruth May 21 (BusinessDesk) - Inland Revenue Commissioner Naomi Ferguson should have asked the courts for twice as much as it was awarded earlier this month against Eric Watson’s Cullen Group, according to a University of Auckland law professor. The High Court ordered Cullen to pay non-resident withholding tax of $51.5 million plus interest of $60.5 million and as yet unquantified penalties. Cullen is appealing that decision. Watson-controlled Cayman Island-based trusts had paid only 2 percent in tax under the Approved Issue...

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