The Administrative Court of Appeal gives FinnvedenBulten right in tax ruling
The Administrative Court of Appeal in Stockholm has in a ruling dated April 11, 2013 repealed the Swedish tax authority Skatteverket’s (“Skatteverket”) review decision of FinnvedenBulten AB (publ) ("FinnvedenBulten") tax loss carryforwards and grants that FinnvedenBulten is entitled to reimbursement for costs associated with the process.
Skatteverket has previously, through review decision, declined FinnvedenBulten tax loss carryforwards by partially disallowed the deduction of interest on shareholder loans. FinnvedenBulten has maintained its former position with the support of leading tax experts and appealed to the The Administrative Court of Appeal. As The Administrative Court of Appeal in its ruling April 11, 2013 has approved FinnvedenBulten’s position, carryforwards by approximately SEK 197 million will be allowed and reimbursement of costs associated with the process of SEK 300,000. The ruling is expected to gain legal force in June 2013.
Gothenburg, 16 April 2013
For further information, please contact:
Johan Westman, President and CEO, FinnvedenBulten
Tel: + 46 (0)70-520 59 17, e-mail: email@example.com
NB: The information was submitted for publication on April 16, 2013 at 15.00 CET.
FinnvedenBulten develops and manages industrial businesses, offering products, technical solutions and systems in metallic materials. The Group operates as a business partner to international customers in the engineering industry, primarily the automotive industry. FinnvedenBulten is structured into two divisions – Bulten and Finnveden Metal Structures – both with strong positions in their respective customer segments. FinnvedenBulten is listed on NASDAQ OMX Stockholm. Further information at www.finnvedenbulten.com.