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Australia's Crown Resorts pays $45 million to regulator in tax underpayment case

Australia's Crown Resorts pays $45 million to regulator in tax underpayment case
Australia's Crown Resorts pays $45 million to regulator in tax underpayment case   -   Copyright  Thomson Reuters 2021
By Reuters

– Australia’s Crown Resorts Ltd said on Tuesday it had paid A$61 million ($44.86 million) as a fine for underpaying taxes at its Melbourne operations since 2012, as a broader inquiry that could see the casino operator lose its licence nears an end.

Crown said it would keep assessing the value that has been underpaid, adding that the Victorian Commission for Gambling and Liquor Regulation (VCGLR) would also provide a final amount owed to the state after its review is completed by Oct. 15.

The amount declared on Tuesday includes a penalty interest of about A$24 million, the company said.

Victoria state last month gave additional time and funding to the Royal Commission that is probing Crown Melbourne to look into its corporate culture and claims of underpaid casino tax.

The Royal Commission, Australia’s most powerful type of public inquiry, will ultimately determine if Crown can hold its Melbourne casino licence, while the company works towards getting its Sydney licence back.

($1 = 1.3598 Australian dollars)