Supplementary comments on the Administrative Court of Appeal’s rulings in the ongoing tax cases
As previously communicated, Fabege has received the Administrative Court of Appeal’s rulings concerning a number of Fabege’s tax cases. The Administrative Court of Appeal has found that the Swedish Tax Evasion Act is applicable and that the transactions in questions are to be taxed. The rulings that have been passed demonstrate that Fabege has prevailed to some extent in its motions regarding how taxable profit should be calculated.
Based on the rulings that have been announced, the total amount by which Fabege’s taxable income has been increased has been reduced to SEK 7,623m and the total tax demand, including miscellaneous charges and fees, has been reduced to SEK 2,373m.
Fabege has reserved a total of SEK 1.9bn. The remaining amount of the Swedish Tax Agency’s full demand, i.e. SEK 0.5bn, will be recognised as a contingent liability. Fabege is currently standing by its previous decision to reserve SEK 1.9bn.
The Administrative Court of Appeal has yet to announce a time schedule for when the remaining rulings are expected to be announced.
Fabege is contesting the Administrative Court of Appeal’s decisions and intends to submit an appeal to the Supreme Administrative Court.
Fabege AB (publ)
For further information, please contact:
Christian Hermelin, CEO, phone 46 (0)8-555 148 25, 46 (0)733-87 18 25
Åsa Bergström, CFO, phone 46 (0)8-555 148 29, 46 (0)70-666 13 80
This constitutes information that Fabege AB (publ) may be legally obliged to publish under the Securities Market Act and/or the Financial Instruments Trading Act. The information was released for publication at 3:00 pm CET on 3 October 2013.
Fabege AB (publ) is one of Sweden’s leading property companies focusing mainly on letting and managing office premises and property development. The carrying amount of the company’s property portfolio is approximately SEK 32.2bn. The portfolio is concentrated in the Stockholm region and has an annualised rental value of SEK 2.3bn and a lettable area of 1.1m sqm. Fabege’s shares are listed on Nasdaq OMX Stockholm, Large Cap segment.
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