Brief: Norwegian Court Rules In Favor Of Boozt In Dispute With Norwegian Tax Administration

BOOZT AB

08/09/2023 15:10

Sept 8 (Reuters) - Boozt AB  BOOZT.ST :
    * NORWEGIAN COURT RULES IN FAVOR OF BOOZT IN DISPUTE WITH
THE
NORWEGIAN TAX ADMINISTRATION (SKATTEETATEN)
    * CASE CENTERS AROUND VALIDITY OF NORWEGIAN TAX
ADMINISTRATION'S
DECISION ON SEPTEMBER 30, 2022, TO REJECT BOOZT'S APPLICATION
FOR SIMPLIFIED REGISTRATION FOR VALUE-ADDED TAX
    * AFTER A THOROUGH EXAMINATION OF CASE'S CIRCUMSTANCES, OSLO
DISTRICT COURT HAS DETERMINED THAT BOOZT SHOULD NOT BE
CONSIDERED AS HAVING DOMESTIC NORWEGIAN REVENUE
    * JUDGMENT HANDED DOWN BY OSLO DISTRICT COURT WILL BECOME
LEGALLY
BINDING FOUR WEEKS AFTER BEING SERVED TO PARTIES, UNLESS IT IS
APPEALED TO COURT OF APPEALS (LAGMANSSRETTEN) WITHIN THIS
TIMEFRAME
    * SHOULD JUDGMENT OF OSLO DISTRICT COURT BECOME LEGALLY
BINDING,
IT WILL HAVE INDIRECTEFFECT OF RELIEVING BOOZT GOING FORWARD OF
OBLIGATION TO PAY NORWEGIAN IMPORT DUTIES ON PRODUCTS SOLD TO
NORWEGIAN CUSTOMERS
    * COST-SAVING IMPLICATIONS OF OSLO DISTRICT COURT'S JUDGMENT
ARE
EXPECTED TO BE FULLY REALIZED ONLY IN 2024, PROVIDED THAT
JUDGEMENT BECOMES LEGALLY BINDING
    * THESE IMPORT DUTIES AMOUNTED TO APPROXIMATELY 45 MILLION
SEK
DURING FISCAL YEAR 2022

Source text for Eikon:  ID:nMFN1wRLTf 
Further company coverage:  BOOZT.ST 

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