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Cleanaway Waste Appeals Victorian Supreme Court's Decision Regarding Historical Landfill Levy Underpayment

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Cleanaway Waste Management (ASX:CWY) lodged an appeal of the Victorian Supreme Court's decision regarding the historical underpayment of landfill levy at the Melbourne Regional Landfill in Victoria for the fiscal year 2018, according to a Friday Australian bourse filing.

The firm plans to take a AU$27.5 million provision for the relevant fiscal year 2018, fiscal year 2019, and fiscal year 2022 levies, as well as assessed costs and accrued interest, which it will treat as an underlying adjustment.

The landfill levy underpayment amount for the fiscal year 2018 is AU$6.9 million. The EPA undertook audits for fiscal year 2019 and fiscal year 2022, claiming underpayments relating to similar products of AU$4.7 million and AU$7.2 million, respectively, the filing added.

The cash flow impact for fiscal year 2027 is expected to be around AU$12.3 million, representing payment of the disputed fiscal year 2018 levy amount as well as associated costs and interest.

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