Appeal and request for leave denied
Appeal and request for leave denied
Solna, Sweden, March 7, 2011
ICA has previously released information, including in its interim and annual reports, on a tax dispute concerning interest deductions for the period 2001-2003. ICA appealed the Administrative Court of Appeals ruling in 2010 and filed an appeal and request for leave to appeal to the Supreme Administrative Court, which has now decided to deny the request. The decision means that the Administrative Court of Appeals ruling has been upheld.
The decision has no financial effect on ICA, since the tax claim of SEK 747 million was paid in 2009 and expensed in the second quarter of 2010.
New rules introduced on January 1, 2009 limit deductions for intra-Group loans. At that point ICA adapted its internal financing to the new law.
For further information, please contact: ICAs press office, phone +46 70 253 66 60 ----------------------------------------------------------------------------------------------------- About ICA The ICA Group (ICA AB) is one of the Nordic regions leading retail companies, with around 2,200 of its own and retailer-owned stores in Sweden, Norway and the three Baltic countries. The Group includes ICA Sweden, ICA Norway, Rimi Baltic and ICA Real Estate. ICA also offers financial services to Swedish customers through ICA Bank. ICA AB is a joint venture 40% owned by Hakon Invest AB and 60% by Royal Ahold N.V. of the Netherlands. According to a shareholder agreement, Royal Ahold and Hakon Invest jointly share controlling influence over ICA AB. Through Royal Ahold, ICA AB is part of an international retail network. For more information, please visit http://www.ica.se