Update: APN and NZME pay $36.3 million to settle disputed tax avoidance and other cases

Fri, 24 Jun 2016

(Update: adding payout split, demerger date, third matter in dispute) By Fiona Rotherham June 24 (BusinessDesk) - Australian publisher APN News & Media and New Zealand-based NZME are to each pay around $18 million to the Inland Revenue Department after reaching a binding heads of agreement to settle an alleged tax avoidance case and other disputed tax issues. In a statement to the stock exchange, APN said the $36.3 million settlement cost would be shared on a “near equal” basis with NZME and then later said it was around $18 million ea...

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