Supreme Administrative Court issues writ of certiorari for ruling appealed to the Administrative Court of Appeal

Through its decision on December 21, 2006, the Supreme Administrative Court has issued a writ of certiorari for a ruling appealed by Industrivärden to the Administrative Court of Appeal.

In its ruling issued in January 2004, the Administrative Court of Appeal upheld the tax authority’s request to apply the Tax Evasion Act with respect to the questioned right to deduction for interest paid during the fiscal years 1995–1998 in holding companies owned by Industrivärden. The ruling entailed that deduction was not granted for interest expenses that reduced the tax in the holding companies by a total of SEK 165 M. The County Administrative Court had previously turned down the tax authority’s request in a ruling in 2002. Industrivärden has booked a tax liability of SEK 165 M along with SEK 54 M in back interest.

Information on this matter has been continuously reported in Industrivärden’s annual reports for the years 2002–2005 (see note 13).

In its petition to the Supreme Administrative Court, Industrivärden argued that the Administrative Court of Appeal’s application of the Tax Evasion Act is without legal basis. The Supreme Administrative Court’s consideration of the Administrative Court of Appeal’s ruling is therefore crucial.


Stockholm, December 21, 2006

AB INDUSTRIVÄRDEN (publ.)


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Carl-Olof By, Executive Vice Presicent, tel. +46-8-666 64 00