PKC Group Oyj - Company Announcement

PKC's tax appeal for the business restructuring carried out in 2009 rejected by Finland’s Board of Adjustment

PKC Group Plc     Company Announcement   7 January 2016    8.00 am



PKC's tax appeal for the business restructuring carried out in 2009 rejected by
Finland’s Board of Adjustment 



PKC Group Plc has received a decision from the Board of Adjustment of the
Finnish Tax Authorities, according to which PKC Group Plc would be obliged to
pay EUR 8.3 million additional taxes, punitive tax increases and interests in
the case concerning the Wiring Systems business restructuring carried out in
2009. The company recorded the sum in the financial year 2014 results. 



PKC has issued company announcements on this case on 23 September 2014.



The company and the Finnish tax administration have significantly different
views in assessing the nature of the reorganisation and its valuation. PKC
Group is of the opinion that it has complied with the tax laws, OECD’s transfer
pricing guidelines and tax administration’s guidelines. PKC Group considers the
claim to be without foundation and places the issue before the administrative
court of Helsinki and apply for a rectification of the Board of Adjustment’s
ruling and continuation of interdiction of enforcement of the tax imposed. 





PKC Group Plc



Board of Directors



Matti Hyytiäinen

President & CEO



For additional information, contact:

Juha Torniainen, CFO, PKC Group Plc, tel. +358 (0)40 570 8871





Distribution

Nasdaq Helsinki

Main media

www.pkcgroup.com





PKC Group is a global partner, designing, manufacturing and integrating
electrical distribution systems, electronics and related architecture
components for the commercial vehicle industry, rolling stock manufacturers and
other selected segments. The Group has production facilities in Brazil, China,
Estonia, Finland, Germany, Lithuania, Mexico, Poland, Russia, Serbia and the
USA. The Group's revenue in 2014 totalled EUR 829.5 million. PKC Group Plc is
listed on Nasdaq Helsinki.