Supreme Court dashes fraud claims against IRD in $3.7B Trinity tax case

Thu, 08 Nov 2012

By Paul McBeth Nov. 9 (BusinessDesk) - New Zealand's Supreme Court has rejected a claim the Inland Revenue Department fraudulently won its $3.7 billion tax case involving the 'Trinity' forestry scheme. The court bench, comprising Chief Justice Sian Elias and Justices Andrew Tipping, John McGrath, William Young and Thomas Gault, upheld an appeal by the Commissioner of Inland Revenue, and restored a High Court decision maintaining the tax department's interpretation about tax deductions made by the scheme's investors. The decision was delivere...

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