January 30, 2018 / 7:22 AM / 8 months ago

BRIEF-Vitec Says Tax Cuts And Jobs Act Expected To Result In Non-Cash Tax Charge In 2017

Jan 30 (Reuters) - Vitec Group Plc:

* ‍RECENTLY ENACTED TAX CUTS AND JOBS ACT IN UNITED STATES IS EXPECTED (SUBJECT TO AUDIT) TO RESULT IN A NON-CASH TAX CHARGE IN 2017​

* TAX CUTS AND JOBS ACT EXPECTED TO RESULT IN A NON-CASH TAX CHARGE IN 2017 RELATING TO REVALUATION OF US DEFERRED TAX BALANCES OF ABOUT £7.0M​

* CHARGE IS AS A RESULT OF REDUCTION IN FEDERAL TAX RATE FROM 34% TO 21% AND WILL BE EXCLUDED FROM ADJUSTED EARNINGS​ Source text for Eikon: Further company coverage: (Bangalore.newsroom@thomsonreuters.com)

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