Australian Taxation Office upholds TPG Myer ruling: reports
The Australian Taxation Office has reinforced its original judgment that followed its pursuit of TPG Capital in November 2009 for payment of income tax on its exit from local department store investment Myer, according to reports.
The ATO originally ruled that TPG was liable for its A$1.4 billion ($1.34 billion) exit proceeds to be taxed as income, not capital gains, yielding an A$628 million ($605 million) tax bill, but the agency...
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