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Crown Resorts surprised by US$ 258 tax bill

Packer owns 53 percent of Crown Resorts.

James Packer plans to fight the Australian Taxation Office over this matter, in court if necessary.

Australia.- Crown Resorts received US$ 258 tax bill from the Australian Taxation Office (ATO,) which demands the payment of taxes connected to the casino operator’s failed Cannery casinos business.

In 2007, James Packer acquired four casinos in Nevada and western Pennsylvania. The global financial crisis hit, forcing Crown to issue billions of dollars in write-downs. Now, the ATO expects Crown to pay US$ 178 in tax and interest from the period between 2009 and 2014 and US$80 million in penalties.

James Packer affirms Crown Resorts will take this matter to court if they need to. “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 to the amended assessments,” stated the company.

 

 

 

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