Brief: XXL Subsidiary Receives Reassessment By Norwegian Tax Authorities

Xxl AS

15/06/2023 11:26

June 15 (Reuters) - XXL ASA  XXL.OL :
    * XXL ASA - REASSESSMENT BY NORWEGIAN TAX AUTHORITIES
    * SUBSIDIARY XXL SPORT & VILLMARK AS HAS TODAY RECEIVED A
REASSESSMENT FROM NORWEGIAN TAX AUTHORITIES RELATING TO XXL
GROUP'S INTERNATIONAL TRANSFER PRICING MODEL
    * DOES NOT AGREE WITH REASSESSMENT
    * NORWEGIAN TAX AUTHORITIES HAVE INCREASED TAXABLE INCOME OF
XXL
SPORT & VILLMARK AS FOR 2015, 2016, 2017 AND 2018
    * AND WILL ALSO SEEK TO MITIGATE NET TAX EFFECTS FOR XXL
GROUP BY
ADJUSTMENTS TO TAXABLE INCOME IN ANOTHER JURISDICTION
    * COMPANY ACCORDINGLY EXPECTS THAT NET TAX AMOUNT PAYABLE BY
GROUP
WILL BE REDUCED TO A SIGNIFICANTLY LOWER AMOUNT
    * EXPECTS THAT NET TAX AMOUNT PAYABLE BY GROUP WILL BE
REDUCED TO
A SIGNIFICANTLY LOWER AMOUNT
    * INCREASE IN TAXABLE INCOME RESULTS IN ADDITIONAL TAX
PAYABLE IN
NORWAY IN TOTAL AMOUNT OF NOK 138 908 976 FOR THESE YEARS
EXCLUSIVE REASSESSMENT INTEREST
    * FOR YEAR 2019 TAXABLE INCOME HAS BEEN REDUCED WITH NOK 82
613
828

Source text for Eikon:  ID:nObiTyP2Ka 
Further company coverage:  XXL.OL 

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