Back to News

Adhoc announcement: Borealis AG / Borealis Technology Oy has received a re-assessment decision from the Finnish tax authority for the year 2008

Financial Figures/Balance Sheet/Accounting and Audits

Vienna, 29 December 2014

Today, Borealis Technology Oy, a Finnish subsidiary of Borealis AG, Wagramer Strasse 17-19, 1220 Vienna ("Borealis"), has received a re-assessment decision from the Finnish tax authority regarding the year 2008. The Finnish tax authority requests Borealis to pay an additional total amount of EUR 281.7 million comprising of taxes, late payment interest and penalties.

Borealis believes the re-assessment to be unjustified and will appeal by filing a claim for adjustment with the Board of Adjustment of the Finnish tax authority. Furthermore, Borealis will also ask for a suspension of the payment pending the appeal.

The amount claimed, if in fact due, would not have a material adverse impact on Borealis' ability to conduct its business operations, including its payment obligations, and neither would a payment trigger any covenants or obligations under Borealis' existing financial contractual arrangements.

Mandatory information:
The following debt securities are listed at the Vienna Stock Exchange, Second Regulated Market
ISIN: AT0000A0VL70 Borealis-Anleihe 12-19
ISIN: AT0000A0H0V3 Borealis-Anleihe 10-17

Media Contact
Andrej Larin
Group Funding Manager
Michael Schenk
Vice President Treasury & Funding

Related News

News – 30/05/2023

Supporting this once-in-a-generation opportunity to tackle plastic pollution

Read more

Media Release – 23/05/2023

Borealis and IINO Lines sign long-term charter contract for the Oceanus Aurora, a custom-built state of art LPG vessel

Read more

Media Release – 09/05/2023

Borealis showcases a new PP monomaterial pouch that is fully compatible for mechanical recycling of polypropylene at PRSE 2023

Read more

Media Release – 03/05/2023

Borealis launches Stelora™, a new class of engineering polymer that pushes the boundaries in performance and sustainability

Read more

Media Release – 02/05/2023

Borealis launches portfolio of circular plastomers and elastomers based on renewable feedstock

Read more

News – 28/04/2023

Re-tendering process for construction works in Kallo concluded

Read more

Media Release – 26/04/2023

Daniel Turnheim appointed Borealis CFO as of 1 June 2023, succeeding Mark Tonkens

Read more

Media Release – 18/04/2023

Borealis Bornewables™ polymers for personal hygiene fabrics help PFNonwovens Group accelerate its journey towards climate neutrality

Read more

Media Release – 13/04/2023

Borealis and Axpo sign their second long-term PPA within six months

Read more