Advanced income tax ruling on the sale of Volvo Cars

ADVANCED INCOME TAX RULING ON THE SALE OF VOLVO CARS As previously announced, Volvo requested an advance ruling with regard to the income tax on the sale of shares in Volvo Car Corporation to the Ford Motor Company. In a unanimous decision, an announcement by the Council of Advance Rulings on April 7, 1999 confirmed Volvo's interpretation regarding the principles for how the taxable income should be calculated. According to Volvo's calculations, this means that the sale does not result in any taxable capital gain. The Swedish National Tax Board has three weeks to appeal the decision to the Supreme Administrative Court. April 7, 1999 For further information, please contact: Mats Edenborg, AB Volvo, phone +46-31-59 11 26, mobile +46-708-59 11 26 ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/04/07/19990407BIT00390/bit0001.doc http://www.bit.se/bitonline/1999/04/07/19990407BIT00390/bit0002.pdf