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Huge penalty in tax case

Monday 17th of November 2003

The dispute centres on a tax avoidance scheme by company Actonz that has triggered one of New Zealand's biggest tax disputes and seen the company receive a major judgement against it.

Actonz helped investors buy a share in six software applications for nearly $700 million. It then used the depreciation or loss value over time on the software to offset its own tax bills.

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