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Alcoa hit with $921m tax bill

US aluminium giant Alcoa is set for a legal battle with the Australian Taxation Office after its local operations were hit with a $921 million bill over transfer pricing allegations.

The tax hit comes with a cloud hanging over the Portland aluminium smelter in Victoria, where Alcoa is the biggest shareholder.

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Brad Thompson was a reporter at The Australian Financial Review

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    Original URL: https://www.afr.com/companies/manufacturing/alcoa-hit-with-921m-tax-bill-20200708-p55a2g