26 April 2022
Merlion Park, Singapore
Singapore Telecommunications (Singtel) has filed an appeal after a court in Australia ruled that its subsidiary must pay a A$393m tax bill that can be traced back to the company’s acquisition of Optus 21-years-ago.
The sum consists of primary tax of A$268m and interest of A$58m, as well as penalties of A$67m - and follows an amended assessment by the Commissioner of Taxation.
“The Singtel Group remains committed to complying with its tax obligations in its operating markets," the company said.
The ruling was made on Dec 17, against Singtel’s local unit Singapore Telecom Australia Investments. It acquired Optus in 2001
