Crown Resorts is continuing the battle for the taxing process in Australia in the Justice.
Australia.- Crown Resorts representatives are expected to continue the battle against Australian authorities next month in the Court. The legal battle began when the casino operator presented objections to the AUS$362 million (US$270 million) tax bill last May and the Australian tax office rejected it.
Crown Resorts had previously quit plans for expansion in Las Vegas and in Macau as the company was affected by a Chinese crackdown on gambling that resulted in the jailing of more than a dozen of its staff two years ago. Then the company faced a battle against Australian authorities because the tax office disputes the firm’s treatment of unsuccessful investments in Las Vegas between 2009 and 2014.
Now casino operators are scheduled to be heard in an Australian court next month after the tax office refused leniency. “The amount, which is 5 per cent more than Crown’s normalised 2017 net profit, comprises back taxes and penalties,” revealed Reuters.
“Crown considers that it has paid the correct amount of tax and intends to pursue all available avenues of objection (including, if necessary, court proceedings),” the company responded in its annual report.
Meanwhile, James Packer no longer holds a seat on the board of Consolidated Press Holdings (CPH), his family’s private investment company, after he announced his resignation. Mr Packer’s decision was confirmed on June 27th through a letter sent to the Australian Securities and Investment Commission and was due to mental health issues.