July 8, 2020 / 12:05 AM / a month ago

BRIEF-Alumina Updates On Alcoa Of Australia Ltd Taxation Assessments

July 8 (Reuters) - Alumina Ltd:

* UPDATES ON ALCOA OF AUSTRALIA LTD TAXATION ASSESSMENTS

* ATO NOW ISSUED AOA WITH NOTICES OF ASSESSMENT ASSERT CLAIMS FOR ADDITIONAL INCOME TAX PAYABLE BY AOA OF ABOUT A$214 MILLION

* NOTICES ALSO INCLUDE CLAIMS FOR COMPOUNDED INTEREST ON PRIMARY TAX AMOUNT TOTALLING ABOUT A$707 MILLION

* AOA EXPECTS TO PAY 50% OF ASSESSED PRIMARY INCOME TAX AMOUNT OUT OF CASH FLOWS IN Q3 OF 2020

* AUSTRALIAN TAXATION OFFICE (ATO) ALSO EXPECTED TO ASSESS ADMINISTRATIVE PENALTIES

* AOA WILL DEFEND ITS POSITION IN RESPECT OF ATO’S NOTICES Source text for Eikon: Further company coverage:

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