On 16 May 2023, Dolphin Cove Limited was notified of a decision of the Revenue Appeals Division that the assessment for J$91,797,671, referred to in Note 26 (b) (i) of the audited financial statements for the year ended 31 December 2022, is confirmed. The assessment, as determined on appeal, is exclusive of any interests or penalties that may apply.
The company is in a position to discharge any liability arising from the assessment without adversely affecting its operation as the leading entertainment facility in Jamaica.
We are awaiting Counsel’s advice in connection with the decision.
