Billionaire tea company Teavana Inc. has received a $500 million tax rebate from the Australian Government after a review found that it did not pay its employees enough tax.
The company, which sells tea for a range of clients including Microsoft, Apple and Nike, received the tax rebate in April, a company spokesman said on Thursday.
“The rebate is for the benefit of the company, as well as our employees,” the spokesman said.
“We are currently in discussions with the Australian Taxation Office to determine the exact amount of tax it will award.”
Teavna was granted a tax rebate of $500,000 over three years after the company was accused of failing to pay $18.7 million in taxes.
Teavanna was one of a number of Australian companies which had received large tax breaks, including Amazon, Apple, Coca Cola and Virgin Media.
The tax-free deal will see the company get a $2 million tax cut over three months.
Tevna’s tax rate for the year is currently 28 per cent.
The Australian Tax Office said it received “several submissions” on Teavanta over the past 12 months, but declined to name them.
The ABC’s Louise McBroom reported in April that the company had paid $8.8 million in federal and state tax, including $1.4 million in income tax, and $2.6 million in state and local tax.