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TNE - TechnologyOne News Story

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Sector
Technology
Size
Mid Cap
Market Cap £1.57bn
Enterprise Value £1.52bn
Revenue £165.4m
Position in Universe 163rd / 1911

BRIEF-TechnologyOne clarifies its effective tax rate

Fri 18th December, 2015 2:41am
Dec 18 (Reuters) - TechnologyOne Ltd  TNE.AX : 
 
 * TechnologyOne clarifies its effective tax rate in response to the ato's 
   corporate tax transparency report 
 * Effective tax rate would have been 30 per cent, had a legitimate research & 
   development (research and development) tax offset not been applied." 
 * Our reduced tax is simply the result of our extensive research and 
   development program of $41million" 
 * Di marco said its tax was in line with the ato's requirements 
 * Says" it is disappointing to see what the ato has done" 
 
* Source text for Eikon  ID:nASX567Cvz  
 
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