REC Silicon has received a provisional decision from the Norwegian Tax Office (CTO). The CTO disallows tax losses of US$36m to be deducted from tax expenses. In 2015, the CTO received a notice from the CTO and affirmed the tax position of the company. In 2016, however, the CTO reassessed the tax returns from 2009 and 2011. REC’s management will oppose the provisional decision. In Q2 17, however, around US$30m including US$4m interest expenses will be booked as short-term liabilities. Ca
12 Jul 2017
Reassessment of tax losses – no good news!
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Reassessment of tax losses – no good news!
REC Silicon ASA (0FS8:LON) | 0 0 0.0% | Mkt Cap: 1,187m
- Published:
12 Jul 2017 -
Author:
Heinz Steffen -
Pages:
2
REC Silicon has received a provisional decision from the Norwegian Tax Office (CTO). The CTO disallows tax losses of US$36m to be deducted from tax expenses. In 2015, the CTO received a notice from the CTO and affirmed the tax position of the company. In 2016, however, the CTO reassessed the tax returns from 2009 and 2011. REC’s management will oppose the provisional decision. In Q2 17, however, around US$30m including US$4m interest expenses will be booked as short-term liabilities. Ca