UPDATE Tax advisers' shock at taxman's latest big avoidance win

Tue, 05 Mar 2013

By Pattrick Smellie (19th paragraph alters the way evidence of Michael Schubert was initially chararacterised) March 5 (BusinessDesk) - Senior tax practitioners are in shock after the Inland Revenue Department won another key tax avoidance case in the Court of Appeal, with implications for at least 16 companies and some $300 million of back tax, interest and penalties at stake. The latest decision, issued this morning, throws out the appeal by Australian listed kitchenware maker Alesco Corp against Inland Revenue Department determinations th...

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