Hoist Finance releases part of tax provision
On 8 July 2021, Hoist Finance informed in a press release about a tax matter concerning cross border allocation of profits. On 22 December 2022, the Swedish Tax Agency issued its decision on the matter. The decision includes an obligation on Hoist Finance to pay an additional amount of taxes that is less than the amount proposed in a preliminary decision by the Tax Agency in 2021. Hoist Finance will appeal the decision to the administrative court. The decision entails Hoist Finance to release SEK 78m of tax provisions. The release will affect the profit after tax in the fourth quarter 2022.