December 26, 2017 / 10:03 PM / 9 months ago

Australia's WorleyParsons, Navitas face charges for U.S. tax overhaul

Dec 27 (Reuters) - Australian engineering firm WorleyParsons Ltd and education provider Navitas Ltd said on Wednesday they would incur one-off charges following the recently passed tax legislation in the United States.

WorleyParsons said in a statement it expected a one-time charge to the group’s income tax expense of between A$45 million ($34.77 million) and A$60 million and the charge would not be included in the group’s underlying earnings.

Meanwhile, Navitas said it was cutting the carrying value of its tax assets in the United States, resulting in an income tax charge of A$7.5 million which would appear in its 2018 interim financial statements.

$1 = 1.2943 Australian dollars Reporting by Aaron Saldanha in Bengaluru; Editing by Andrew Hay

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