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2021-12-20

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Singtel flags $216 million exposure in Australia tax case defeat

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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSingtel flags $216 million exposure in Australia tax case defeat\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-12-20 15:12 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.streetinsider.com/dr/news.php?id=19370799><strong>StreetInsider</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SINGAPORE (Reuters) - Singapore Telecommunications Ltd has estimated it faces A$304 million ($216 million) in tax exposure, interest and penalties, after an Australian court dismissed its appeal ...</p>\n\n<a href=\"https://www.streetinsider.com/dr/news.php?id=19370799\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"Z74.SI":"新电信","SGAPY":"Singapore Telecommunications Ltd."},"source_url":"https://www.streetinsider.com/dr/news.php?id=19370799","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2192900888","content_text":"SINGAPORE (Reuters) - Singapore Telecommunications Ltd has estimated it faces A$304 million ($216 million) in tax exposure, interest and penalties, after an Australian court dismissed its appeal against an assessment by the country's taxation office.\nThe case is related to its acquisition of Singtel Optus Pty Limited in 2001.\nSingtel's Australian subsidiary, Singapore Telecom Australia Investments (STAI), had received amended assessments from the Australian Taxation Office for primary tax of A$268 million, interest of A$58 million and penalties of A$67 million in 2016 and 2017.\nSingtel said in a statement on Sunday it had received an \"unfavourable judgement\" from the Federal Court of Australia of its appeal against the assessments.\nThe exposures, which factor in a refund of withholding tax, were fully disclosed as contingent liabilities in Singtel's audited financial statements in prior periods, the company said.\n\"The Singtel Group will consider the details of the judgment, explore available options and determine next steps. 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