Brief: Pharol Says 2008 Potential Tax Liabilities Of 35 Mln Euros Now Extinguished

Pharol SGPS SA

12/10/2023 06:26

Oct 12 (Reuters) - Pharol SGPS SA  PHRA.LS :
    * SAID ON WEDNESDAY WAS NOTIFIED BY PORTUGUESE TAX AUTHORITY
OF
2008 TAX ASSESSMENT AND ACCOUNTS SETTLEMENT STATEMENT, PURSUANT
TO COURT DECISION HANDED DOWN IN JUDICIAL CHALLENGE PROCESS,
WHICH OUTCOME IS WHOLLY FAVORABLE TO PHAROL'S CLAIM
    * IN ALL THE PROCESSES RELATING TO 2008 FINANCIAL YEAR,
PHAROL'S
POTENTIAL TAX LIABILITY WAS 35 MLN EUROS AND IS NOW COMPLETELY
EXTINGUISHED
    * REDUCES GLOBAL AMOUNT OF POTENTIAL TAX LIABILITIES TO
AROUND 146
MLN EUROS AS OF TODAY (INCLUDING POSSIBLE DEFAULT INTEREST ON
THE LAWSUITS), NOTWITHSTANDING OI'S RESPONSIBILITY FOR ALL
UNFAVORABLE DECISIONS THAT MAY HAPPEN IN THIS CHAPTER

        
 Source text: https://tinyurl.com/ns84h57n
 Further company coverage:  PHRA.LS  

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