Casino operator Crown Resorts Ltd. is fighting tooth and nail to block the AUD362 million (US$270 million) tax bill that the Australian government wants to levy.
Reuters reported that Crown Resorts is disputing the multi-million tax bill that the Australian Taxation Office (ATO) issued before the court, saying the amount is 5 percent more than its normalized 2017 net profit.
The court has scheduled the hearing of Crown Resorts’ tax contentions on August 31.
Record showed that Crown Resorts’ tax woes stemmed from its acquisition of Vegas casino operator Cannery Casino Resorts for US$1.75 billion and other North American investments in 2007. The Cannery portfolio includes four casinos in Nevada and western Pennsylvania.