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
Senior Analyst, Funding
Michael Schenk
Vice President Treasury & Funding

Related News

Media Release – 01/02/2023

Borealis appoints Stefan Toader as Vice President Reliability, Turnarounds and Projects

Read more

News – 23/01/2023

About the Kallo Case

Read more

News – 19/01/2023

Borealis ranked second as Austria’s Leading International Company

Read more

Media Release – 19/01/2023

Borealis Borcycle™ C chemical recycling provides circular solutions for crosslinked polyethylene for the Wire & Cable and Infrastructure sectors

Read more

Media Release – 17/01/2023

Borealis demonstrates commitment to the highest sustainability standards with ISCC PLUS certification for Ecoplast site

Read more

Media Release – 12/01/2023

Borealis acquires a majority stake in Renasci signalling on-going commitment to leading the transformation to a circular economy

Read more

Media Release – 02/01/2023

Borealis and YILDIRIM announce completion of the sale of Borealis’ shareholding in Rosier SA to YILDIRIM Group’s YILFERT Holding

Read more

Media Release – 19/12/2022

Borealis and VERBUND sign first long-term hydropower PPA to supply Borealis operations in Schwechat, Austria as of January 2023

Read more

News – 14/12/2022

The Design for Recycling challenge in Healthcare

Read more