Borealis Technology Oy, a Finnish subsidiary of Borealis AG, has received a re-assessment decision from the Finnish tax authority regarding 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