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2009-08-28 12:50:00 CEST 2009-08-28 12:50:01 CEST REGULATED INFORMATION Panostaja Oyj - Company AnnouncementTAX RECTIFICATION BOARD'S DECISION ON THE TAXATION OF PROFITS FROM PANOSTAJA'S FIXED ASSET SHARESPanostaja Oyj Stock Exchange Bulletin 28th August 2009 01:50 p.m. TAX RECTIFICATION BOARD'S DECISION ON THE TAXATION OF PROFITS FROM PANOSTAJA'S FIXED ASSET SHARES In the preliminary ruling on the Equity Rebate in respect of Takoma Oyj shares in spring 2008, the Tax Office for Major Corporations decided on the basis of an overall assessment that Panostaja was a capital investor within the meaning of section 6 of the Finnish Business Tax Act. For capital investors, capital gains from fixed asset shares are considered taxable income. In its taxation by direct assessment in 2007 and 2008, the Tax Office for Major Corporations regarded Panostaja Oyj as a capital investor in the aforementioned sense and taxed the company's certain profits gained from the sale of shares in fixed assets. Panostaja Oyj submitted a claim for rectification regarding the 2007 taxation to the Tax Rectification Board claiming that the capital gain from the sold fixed asset shares should be exempt from tax. The Tax Rectification Board has denied Panostaja Oyj's claim for rectification and deemed Panostaja a capital investor. Panostaja Oyj will appeal the decision to the Administrative Court of Helsinki. Panostaja Oyj Juha Sarsama Managing Director Additional information: Juha Sarsama, Managing Director, tel. +358 40 774 2099 |
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