ChannelLife NZ - Sony Australia smacked with $53m tax bill

Warning: This story was published more than a year ago.
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Sony Australia smacked with $53m tax bill

Following a year-long investigation by the Australian Taxation Office, CEO and CFO quit the electronics company after verdict.

Sony Australia has been sent into a state of disarray, rocked by a AU$53m tax bill and the resignations of both its CEO and CFO.

Following a year-long investigation by the Australian Taxation Office, the electronics company has been stung with a huge $21m in penalties and $32m in subsequent back taxes.

As a result of the verdict, ChannelNews Australia claims the company has already paid $26.8m back, after reporting a tax profit of $12.5m earlier this year.

ChannelNews also reports that Sony New Zealand managing director, Martin McManus, is set to replace the company's Head of Consumer Marketing, Nicolas Barendson, who quit less than a year into his role.

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