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Australia pursues TPG for $628m in Myers sale taxes and penalties

25 Nov 2009

US private equity firm TPG has been hit with a $628m bill from Australian authorities over alleged unpaid taxes from the $2.2bn sale of department store chain Myers, in a case that could affect future Australian private equity activity. According to reports, the charges include AUS$452m ($421.7m) in capital gains tax, and half again in penalty fines.

 

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