Vitaco trademark tax deductions attract query from IRD

Sun, 11 Oct 2015

By Paul McBeth Oct. 12 (BusinessDesk) - Vitaco Health Group, the food supplements business formed through the merger of Healtheries New Zealand and Nutra-Life & Fitness, is being questioned by the Inland Revenue Department over $6.8 million of tax deductions claimed on a trademark licence agreement. The issue hare arisen just a year after Vitaco cut a deal with the tax department over its use of convertible notes to reduce New Zealand tax liabilities. The New Zealand unit of Vitaco, which listed on the ASX last month, has received corr...

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