The Administrative Court is trying one new case concerning tax evasion
The Administrative Court is trying one additional case under the Swedish Tax Evasion Act for Fabege. The additional tax assessment amounts to SEK 415m and a tax demand of SEK 115m. The total tax assessment, including the new case, amounts to SEK 7 512m, and a total tax demand of SEK 2 138m, including tax penalty.
Fabege contests the Swedish Tax Agency’s demand and maintain its previous view that the sales were accounted for and declared in compliance with applicable rules. This assessment is shared by external legal experts and tax advisors that have analysed the sales and the Tax Agency’s reasoning. No provision has been made in Fabege’s balance sheet. However, until further notice, the amount is instead being recognised as a contingent liability, as in previous financial statements.
Fabege AB (publ)
This constitutes information that Fabege AB (publ) may be legally obliged to disclose under the Securities Market Act and/or the Financial Instruments Trading Act. The information was released for publication at 01:00 pm CET on 28 November 2011.
Fabege AB (publ) is one of Sweden’s leading property companies focusing on commercial premises. The carrying amount of the company’s property portfolio is approximately SEK 28.7bn. The portfolio is concentrated to the Stockholm region and has an annualised rental value of SEK 2.1bn and a lettable area of 1.1m sqm. Fabege’s shares are listed on Nasdaq OMX Stockholm, Large Cap segment.
For further information, please contact:
Christian Hermelin, CEO, phone 46 (0)8 555 148 25, 46 (0)73 387 18 25
Åsa Bergström, Deputy CEO and CFO, phone 46 (0)8 555 148 29, 46 (0)70 666 13 80