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Singtel to appeal against A$393 million tax ruling in Australia

The Edge Singapore
The Edge Singapore4/19/2022 07:13 PM GMT+08  • 1 min read
Singtel to appeal against A$393 million tax ruling in Australia
Singtel acquired Optus back in 2001 / Photo by Samuel Isaac Chua
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Singapore Telecommunications has filed an appeal after a court in Australia ruled that its subsidiary is to pay a A$393 million tax bill that can be traced back to the company’s acquisition of Optus back in 2001.

The ruling was made on Dec 17, against Singtel’s local unit Singapore Telecom Australia Investments.

The sum consists of primary tax of A$268 million, interest of A$58 million, and penalties of A$67 million and follows an amended assessment by the Commissioner of Taxation.

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