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Vacon Oyj Announces Decision in Tax Proceedings Relating to Transfer Pricing

Wednesday, 10 Apr 2013 07:15am EDT 

Vacon Oyj announced that Vacon Oyj, the parent company of Vacon Group, has had tax proceedings in progress relating to a tax inspection of its transfer pricing in the period between 2007 and 2008. According to information received by the Company from the Finnish Large Taxpayers' Office, after examining the case the tax authority has stated that it is not demanding a correction from Vacon to its taxation in the period between 2007 and 2008. The tax authority has previously given up its demands in relation to 2006. In its interim review, the Company assessed these tax proceedings as one of the key risks and uncertainties facing the Company in the near future. On the basis of the decision obtained, the Company announced that it considers that there are no risks or uncertainties relating to this matter. 

Company Quote

19 Dec 2014