ATO bill could be tax shield for Alcoa

Original article by Nick Evans
The Australian – Page: 18 : 17-Jul-20

Alcoa of Australia recently received a tax bill of $921 million from the Australian Taxation Office over alleged transfer pricing. However, due to the alleged behaviour having occurred some time ago, the bill includes an initial interest assessment of around $707 million. Alcoa boss Roy Harvey says the company does not agree with the claims against it, and that it plans to take the matter to the courts. Harvey says Alcoa will use the accrued interest as a tax deduction, which should give it an improved tax position in the near term.

CORPORATES
ALCOA OF AUSTRALIA LIMITED AUSTRALIAN TAXATION OFFICE

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