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Federal Court of Australia threw out an assessment from the tax authority’s commissioner that a subsidiary of Shell plc owed an additional A$99 million ($72 million) in capital gains taxes.
The Federal Court of Australia overturned a tax assessment against Shell's subsidiary.
KEY POINTS
- Shell Energy Holdings Australia won a dispute over A$99 million in alleged capital gains taxes.
- Judge Jackman determined the 1997 Woodside share valuation was $11.12 per share.
- The court set aside the Australian Tax Office's objection decision from February 2024.
COMPANIES
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