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2011-06-22 09:35:47 CEST 2011-06-22 09:36:48 CEST REGULATED INFORMATION Panostaja Oyj - Company AnnouncementHELSINKI ADMINISTRATIVE COURT GAVE ITS RULING CONCERNING THE TAXATION OF PANOSTAJA OYJ'S FIXED ASSET SHARESPanostaja Oyj 22nd June 2011 time 10.30 HELSINKI ADMINISTRATIVE COURT GAVE ITS RULING CONCERNING THE TAXATION OF PANOSTAJA OYJ'S FIXED ASSET SHARES In spring 2008 The Tax Office for Major Corporations decided in its advance ruling concerning the refund of Panostaja Oyj's capital in natura (in Takoma Oyj's shares)that Panostaja Oyj is a capital investor as stated in the Business Income Tax Act (section 6). Gains from the sale of fixed asset shares are taxable income for capital investors. Due to the above-mentioned advance ruling The Tax Office for Major Corporations regarded Panostaja Oyj as a capital investor in the standard annual assessment for 2007 and levied tax on the gains of certain fixed asset shares. Panostaja Oyj appealed against the annual assessment to Assessment Adjustment Board and claimed for exemption for the gains of fixed asset shares. The Assessment Adjustment Board rejected Panostaja Oyj's claim for adjustment in August 2009. Panostaja Oyj appealed against this decision to Helsinki Administrative Court. Panostaja Oyj has been informed of the rejective decision by Helsinki Administrative Court concerning the company's appeal. The Administrative Court has regarded Panostaja Oyj as a capital investor as stated in the Business Income Tax Act. Panostaja Oyj will apply for a permit to appeal to the Supreme Administrative Court against the decision by the administrative court. Panostaja Oyj Juha Sarsama Chief Executive Officer Additional Information: Chief Executive Officer Juha Sarsama 040 774 2099 |
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