Telenor Tax Case Moves Back to Court After Government Appeal
07 Settembre 2023 - 3:16PM
Dow Jones News
By Dominic Chopping
Telenor said Thursday that the Norwegian government has appealed
a court ruling concerning the tax treatment of losses that the
company incurred through an Indian subsidiary.
The Norwegian telecommunications provider incurred losses on
guarantees for financing in Indian subsidiary Unitech Wireless and
subsequently deducted the loss in its 2013 tax return.
However, the tax office decided to disallow the deduction in
2019, prompting Telenor to recognize a 2.49 billion Norwegian
kroner ($232.3 million) tax expense plus interest of NOK 166
million.
Telenor won an appeal against the decision and reversed the
expense in its 2022 accounts before being awarded a further
favourable decision from the Court of Appeal.
Telenor said the government has now filed an appeal to the
Supreme Court arguing that the loss wasn't yet realized and that
the loss wasn't deductible.
The authorities aren't obliged to repay the resulting tax amount
together with interest before there is a final enforceable ruling
from the courts, it added.
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
September 07, 2023 09:01 ET (13:01 GMT)
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