Vector wins tax case over Auckland CBD tunnel payment

Fri, 29 Aug 2014

By Paul McBeth Aug. 29 (BusinessDesk) - Vector, the Auckland electricity and gas network operator, has won a tax case against the Inland Revenue Department over a $53 million payment relating to access rights to its Auckland CBD tunnel. In the High Court in Auckland, Justice John Faire declared payments made by national grid operator Transpower in relation to the underground tunnel, known as NSTC, didn't constitute income and cancelled the tax department's assessment, according to a judgment published today. The judge rejected the IRD'...

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