Singapore markets close in 3 hours 13 minutes
  • Straits Times Index

    3,047.75
    -15.45 (-0.50%)
     
  • Nikkei

    29,707.47
    -132.24 (-0.44%)
     
  • Hang Seng

    24,221.54
    +122.40 (+0.51%)
     
  • FTSE 100

    6,980.98
    +77.07 (+1.12%)
     
  • BTC-USD

    41,933.31
    -569.65 (-1.34%)
     
  • CMC Crypto 200

    1,038.32
    -25.52 (-2.40%)
     
  • S&P 500

    4,354.19
    -3.54 (-0.08%)
     
  • Dow

    33,919.84
    -50.63 (-0.15%)
     
  • Nasdaq

    14,746.40
    +32.49 (+0.22%)
     
  • Gold

    1,778.20
    0.00 (0.00%)
     
  • Crude Oil

    70.51
    -0.05 (-0.07%)
     
  • 10-Yr Bond

    1.3240
    0.0000 (0.00%)
     
  • FTSE Bursa Malaysia

    1,525.40
    -5.04 (-0.33%)
     
  • Jakarta Composite Index

    6,106.31
    +45.55 (+0.75%)
     
  • PSE Index

    6,890.73
    +9.53 (+0.14%)
     

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

  • Oops!
    Something went wrong.
    Please try again later.
·1-min read
FILE PHOTO: The logo of Australian casino giant Crown Resorts Ltd adorns the hotel and casino complex in Melbourne, Australia
In this article:
  • Oops!
    Something went wrong.
    Please try again later.

(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)

(Reporting by Anushka Trivedi in Bengaluru; Editing by Ramakrishnan M.)

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting