Songa Offshore SE : Australian Tax Dispute
(Thomson Reuters ONE) -
Reference is made to Note 4 in the Songa Offshore 2014 Annual Report regarding
the Australian Tax Dispute.
The Australian Taxation Office (ATO) raised claims against Songa Offshore for
the 2009 year in relation to the global restructure implemented in May 2009,
where the Company in Australia changed from an Owner operated structure to a
bareboat structure. The potential liability for the ATO's primary withholding
tax avoidance case for the 2009 - 2011 years was estimated at AUD 88.8m,
inclusive of interest and penalties. The ATO also raised an alternative income
tax avoidance case, for which the potential liability for the 2009 - 2011 years
was estimated at AUD 24.2m, inclusive of penalties and interest.
The dispute, including all matters with the ATO, was settled on 4 September
2015 with Songa Offshore agreeing to make a cash payment of AUD 1.2m
(approximately USD 0.8 million). A corresponding provision was made in the
second quarter 2015 interim financial statement.
Limassol, Cyprus
7 September 2015
Questions should be directed to:
Jan Rune Steinsland, CFO (+47 97052533)
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Songa Offshore SE via GlobeNewswire
[HUG#1950122]
Unternehmensinformation / Kurzprofil:
Datum: 07.09.2015 - 08:02 Uhr
Sprache: Deutsch
News-ID 418275
Anzahl Zeichen: 1961
contact information:
Town:
Oslo
Kategorie:
Business News
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