Businessman Eric Watson's Cullen Group is liable for $51.5m in back-taxes. Watson's Cullen Group was ruled liable for $51.5m in back taxes, plus interest and penalties. During a three-week trial last year the court heard Inland Revenue considered interest costs alone amounted to $60.5m. Inland Revenue legal services leader Karen Whitiskie says the decision today is the "culmination of a lot of hard work by many people". "The outcome of the High Court process is the result of hard work and dedication by the Inland Revenue team, Crown Law and Counsel.

Source: Otago Daily Times March 12, 2019 03:22 UTC