STOCKHOLM, June 3, 2021 /PRNewswire/ -- The Swedish Tax Agency has pursued a case against Hoist Finance where the Administrative court of appeal ruled in favour of Hoist Finance, as was communicated on 2 December 2019. The case was then appealed by the Swedish Tax Agency to the Supreme Administrative Court (the "SAC"), which also ruled in favour of Hoist Finance.
The tax matter concerns a company acquired in 2012, with non-utilised tax losses that were offset against profits during 2012-2014. The Administrative court of appeal concluded - in contrast to the view of the Tax Agency - that Hoist Finance had the right to utilise the tax losses. The value of the tax losses amounted to approximately SEK 30 million.
The SAC has today favoured Hoist Finance's view and decided to uphold the decision of the Administrative court of appeal. The ruling will have no impact on the second quarter financial result.
This information is information that Hoist Finance AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication by Andreas Lindblom at 03:00 P.M. CEST on 3 June 2021.
CONTACT:
For further information, please contact:
Andreas Lindblom, Head of Investor Relations
Telephone: +46 (0) 72 506 14 22
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https://news.cision.com/hoist-finance/r/the-supreme-administrative-court-has-concluded-a-tax-ruling-re-years-2012-2014,c3359804
The following files are available for download:
https://mb.cision.com/Main/8270/3359804/1427348.pdf | 210603 Press release |
