Alcoa Wins Australia Tribunal Ruling in Transfer Pricing Dispute

An Australian tribunal has sided with a subsidiary of aluminum producer Alcoa Corp. in a transfer pricing dispute with the Australian Taxation Office, saying the company didn’t owe the A$214 million ($137 million) in taxes that the ATO contended it owed.

Alcoa of Australia Ltd. has proved the ATO’s assessments related to the company’s sales of alumina to a smelter in Bahrain were “excessive,” Australia’s Administrative Review Tribunal said in a ruling Wednesday.

Alcoa welcomed the ruling and said in a statement that it was “consistent with Alcoa’s long-held position related to this matter.” ...