Cettire denies fresh US tax claims as short sellers circle
The online luxury goods platform and ASX battleground stock has moved to deny fresh claims it isn't meeting its US tax obligations.
Luxury ecommerce platform Cettire has rejected fresh claims it is not meeting its tax obligations in the lucrative United States market as the closely watched ASX-listed company seeks to fend off persistent market jitters over its business model.
And as Cettire insisted it is correctly registered for sales taxes in two of the largest states in the world's largest economy, broking house Bell Potter, one of its biggest supporters in the market, downgraded its rating on the stock.
The downgrade came after new and unrelated analysis published by the anonymous Taxloss account on Substack last week swirled around corners of the market. The analysis claimed Cettire is not correctly registered for sales tax in California and Texas.
In written correspondence, published on the blog, the Texas Comptroller confirmed there is an open collection on an account registered to Cettire’s subsidiary Ark International which is "not in good standing”.
