AUS: Foster's Recognizes A$256.7M Receivable After Winning Tax Case
AUS: Foster's Recognizes A$256.7M Receivable After Winning Tax Case
May 9, 2011 6
(Dow Jones)--Australian beer and wine maker Foster's Group Ltd. (FGL.AU) said Monday it has won a legal battle with the Australian Commissioner of Taxation that will see the company record a receivable of 256.7 million Australian dollars ($276 million).
Foster's said in a statement that the Commissioner wouldn't appeal a Federal Court decision about disputed tax assessments relating to the financing of the Elders Finance Group in the 1980s and 1990s.
"Accordingly this matter is now concluded in favor of Foster's," the company said.
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