St Barbara's (ASX:SBM) subsidiary, Simberi Gold Company, received a tax assessment from Papua New Guinea's Internal Revenue Commission, according to a Monday filing with the Australian bourse.
The assessment relates to the dividend withholding tax and income tax for the mine, evaluated at 523.1 million Papua New Guinea kina, the filing said.
As per the filing, the subsidiary said it strongly disagrees with the basis for the assessment and plans to file a formal objection within the 60-day objection period.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.