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2008-11-26 12:00:00 CET 2008-11-26 12:00:29 CET REGULATED INFORMATION Panostaja Oyj - Company AnnouncementPANOSTAJA OYJ HAS FILED A CLAIM FOR RECTIFICATION OF THE TAX AUTHORITY'S INTERPRETATION OF 'VENTURE CAPITALIST'Panostaja Oyj Stock Exchange Bulletin, 26th November 2008 at 13.00 PANOSTAJA OYJ HAS FILED A CLAIM FOR RECTIFICATION OF THE TAX AUTHORITY'S INTERPRETATION OF 'VENTURE CAPITALIST' In spring 2008, in connection with the preliminary ruling on the return of Takoma Oyj's share capital, the Tax Office for Major Corporations, on the basis of the overall assessment, considered Panostaja a venture capitalist as recognised in Art. 6 of the Law on Taxation of Business Income. In the regular tax assessment for 2007, the Tax Office for Major Corporations considered Panostaja Oyj as the above-mentioned venture capitalist and taxed Panostaja Oyj for certain capital gains on fixed asset shares. If the interpretation of the tax authority remained, it would affect the tax treatment of the possible capital gains and losses on Panostaja's fixed asset shares. However, the interpretation does not affect the shareholders' tax treatment. Panostaja Oyj rejects the interpretation of the tax authority and has filed a relevant claim for rectification with the Taxation Rectification Committee. The time required by the Rectification Committee to handle the claim is estimated to be 6-8 months. PANOSTAJA OYJ Juha Sarsama Managing Director Additional information: Juha Sarsama, Managing Director, tel. 040 774 2099 |
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