Pernod Ricard cuts deal over convertible note tax dispute

Mon, 22 Dec 2014

By Paul McBeth Dec. 23 (BusinessDesk) - Pernod Ricard has joined the list of firms cutting deals with the Inland Revenue Department to settle tax disputes over the use of mandatory convertible notes, a popular way to finance trans-Tasman acquisitions in the 2000s. The New Zealand holding company, Millstream Equities, settled with the tax department on July 24 where it forfeited previously recognised tax losses, paid the tax liability from prior periods and incurred related finance charges, according to financial statements lodged with the...

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