The ATO claims Alcoa of Australia Limited, which is 60 per cent owned by Alcoa and 40 per cent owned by ASX-listed Alumina, under-priced alumina sales that eventually flowed through to Bahrain.
The ATO is claiming AoA under-priced alumina sales that eventually flowed through to Aluminium Bahrain, also known as Alba.
Alumina's statement said the ATO was claiming the company owed $214 million in back taxes, plus interest worth $707 million. In accordance with the ATO's dispute-resolution practises, AoA expects to pay 50 per cent of the assessed primary income tax amount, or $107 million, out of cash flows in the third quarter of 2020.
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