How much more juice can IRD squeeze?

The IRD sets a high bar for its return on investment for investigations. (Image: Deposit Photos))

Fri, 25 Jun 2021

I’m sure the tax specialists at Frucor have gone through a power of V over the past decade.When every other corporate waved the white flag in the early 2010s over their use of convertible notes, Frucor dug in its toes and said ‘no’, these were perfectly lawful tax minimisation techniques for their time, even if they wouldn’t pass muster now.The Inland Revenue Department had been on a roll at the time after the 2004 Trinity forest ruling laid the foundation for a more activist approach to tax collection. It had knocked ov...

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