19 Nov 2013

Argument with IRD won by TrustPower

7:11 am on 19 November 2013

TrustPower has won a tax argument with the Inland Revenue worth nearly $18 million.

The High Court has found that about $17.7 million TrustPower spent on assessing the feasibility of four renewable generation projects during its 2006 to 2008 tax years is tax deductible.

TrustPower said the judgment may still be appealed, but it ws pleased with the result in a dispute which has run for close to six years and required substantial time and resources to litigate.