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Taxation of Klövern AB

2004-12-20

In December 2004, the Tax Agency in Stockholm made decisions on reconsideration of income tax for 1999 och 2000. The decisions mean that the Tax Agency is increasing the company’s tax by SEK 41 million concerning the taxation for 1999, which means a lower deficit in taxation. A lower deficit in the taxation for 1999 has in turn entailed a surplus of SEK 10 million in taxation for 2000, which for the 2004 financial year entails a current tax cost of SEK 3 million and interest expense of SEK 1 million. To this amount a tax surcharge of SEK 4 million is to be added. Klövern does not intend to object to the point at issue, but is going to appeal against the Tax Agency’s decision with respect to the tax surcharge. The tax surcharge is therefore regarded for the time being only as a contingent liability.
 
Klövern’s tax return for the 2003 tax year
After the end of the 2003 taxation period, Klövern claimed a deduction for a capital loss on sale of a subsidiary of an additional approximately SEK 5,000 million. The request is therefore being formally treated as a request for a reconsideration of taxation for 2003. The Tax Agency has not yet reached a decision on the claim for a deduction, but is expected to do so during 2005.
 
Nyköping, 20 December 2004                  
 
 
Klövern AB (publ)
 
For further information, please contact:
Gustaf Hermelin, CEO, tel +46-(0)155-44 33 10, +46-(0)70-560 00 00 gustaf.hermelin@klovern.se
Anders Lundquist, CFO, tel +46-(0)155-44 33 20, +46-(0)70-528 43 33 anders.lundquist@klovern.se
Britt-Marie Einar, CIO, tel +46-(0)155-44 33 12, +46-(0)70-224 29 35 britt-marie.einar@klovern.se

Latest modified: 2004-12-20