UPDATE: Mercury faces $2 mln charge after losing tax dispute

Mon, 08 Jul 2019

(Updates to show Mercury's extra tax charge in 1st, 4th & 5th paragraphs; corrects headline; updates share price in last paragraph.) By Victoria Young July 8 (BusinessDesk) - Inland Revenue has won a tax case against Mercury NZ over the tax classification of two of its turbine halls, which will add an extra $2 million to the electricity generator-retailer's tax bill. Mercury had brought the case against the IRD as it disputed the tax department's classification of the turbine halls for its Kawerau and Nga Awa Purua geothermal power st...

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