TrustPower in tax battle over treatment of resource consents

Wed, 27 Jun 2012

June 27 (BusinessDesk) - TrustPower may have to record a tax expense of as much as $3.3 million in its income statements if a dispute with the Inland Revenue Department (IRD) goes against it, according to shareholder Infratil. The contingent liabilities section of the Infratil annual report discloses that IRD is currently disputing the tax treatment of feasibility expenditure booked by TrustPower in 2006, 2007 and 2008. TrustPower disagrees with IRD and is defending its position. Infratil says that if TrustPower loses it may have to pay tax...

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