APN settles New Zealand tax dispute with Inland RevenueNZME won't have to start life under a cloud of uncertainty thanks to a tax settlement. A cloud hanging over publisher NZME has been removed after Australia's APN News & Media agreed to settle its massive New Zealand tax dispute with Inland Revenue. Credit Suisse had previously cautioned the tax dispute was an area of uncertainty for investors in NZME that "could not be ignored". The $36.3m settlement means New Zealand business NZME, publisher of the New Zealand Herald, will start its new life as an independent business free of uncertainty over its potential tax liabilities. The scaled-back settlement means APN and NZME will be able to offset the actual bill against $56m-worth of tax credits.

Source: Stuff June 23, 2016 22:10 UTC