MARKET RELEASE
29 August 2014
Vector Wins Tax Case
The judgment in Vector’s High court case against the Inland Revenue Department has been released today. The case centred
on a matter of statutory interpretation of a specific section of the Tax Act.
The judgment has found in favour of Vector that a payment of around $53 million relating to access rights to Vector’s
CBD tunnel was not taxable.
Subject to any appeal process the effect is that Inland Revenue will now be required to refund $7.6m of the tax Vector
has already paid.
ENDS