30 May 2005

Nauru still waiting to find out if tax has to be paid on liquidated Australian properties

6:40 am on 30 May 2005

The Nauru Government says it is still awaiting news from Australian Tax Office officials on whether it is liable for tax on the liquidation sale of its Australian properties.

The sale by Australian receivers Prentice Parberry Barilla covered a 188 million US dollar debt owed by Nauru to America's General Electric Capital Corporation, with a surplus.

Nauru's been waiting anxiously to find out how much of the multi-million dollar surplus following the sale may be returned to it.

Prentice Parberry Barilla has said it's done its job and a decision is awaited from tax officials.

A Nauru government minister, David Adeang, says there's still no word.

"We have been asssured by the Australian government, had been assured in March, that we would be visited by a representative of the Australian government to talk with us about these issues and of course its been a couple of months since and we are quite concerned about this and have expressed our concern about the lack of attention be given to this issue, we have expressed this to the Australian government."