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Kingfisher PLC Announces French Tax Case Settled In Favour

Monday, 8 Jul 2013 08:52am EDT 

Kingfisher PLC announced that the Conseil d'Etat, France's ultimate court, has considered an outstanding tax case dating back to 2003 and found in Kingfisher's favour. There is no impact on Kingfisher's cash position from the decision as a full refund of the tax and associated repayment supplement had already been made in 2009 following a previous hearing. However, this decision finally removes any uncertainty over the position and will therefore result in credit of around GBP145 million being recognised in this year's earnings. 

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