STOREBRAND ASA: Update on uncertain tax position
As previously announced, Storebrand Livsforsikring AS has appealed to the Tax Appeals Board a decision made by The Norwegian Tax Administration (TNTA) regarding the uncertain tax position for the income year 2018, and the transitional rules related to new tax legislation for life insurance and pension companies introduced in 2018.
In the appeals process, the TNTA has reversed parts of its own decision. New information in the decision means that Storebrand will book a tax income of about NOK 200 million in the 4th quarter of 2022.
Storebrand is awaiting further considerations to be made by the Tax Appeals Board on the points where there is still disagreement. For more information on uncertain tax positions, see Note 27 of Storebrand ASA's annual report and Note 28 to Storebrand Livsforsikring AS's annual report for 2021.
Lysaker, 27 January 2023
For further inquiries, please contact:
Head of Investor Relations & Rating, Daniel Sundahl:
daniel.sundahl@storebrand.no or (+47) 913 61 899
Storebrand is a Nordic financial group, delivering increased security and financial wellness for people and companies. We offer sustainable solutions and encourage our customers to take good economic decisions for the future. Our purpose is clear: we create a brighter future. Storebrand has about 55.000 corporate customers, 2.2 million individual customers and manages NOK 1,001 billion. The Group has its headquarter at Lysaker outside of Oslo, Norway. Storebrand (STB) is listed on Oslo Stock Exchange.
This is information is pursuant to the EU Market Abuse Regulation and subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.