Download list
Locations / Sites
Contacts
Login
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
Elisabeth Schopf
Group Funding Manager
+43 1 22 400 707
ir@borealisgroup.com
Jan-Martin Nufer
Vice President Treasury & Funding
+43 1 22 400 320
ir@borealisgroup.com

Related News

Media Release – 06/07/2020

Borealis to significantly increase share of renewable energy used for its operations in Finland

Read more

Media Release – 25/06/2020

Borealis and Borouge, through Water for the World, support project to provide sustainable water supplies to over 50,000 people in Greater Maputo, Mozambique

Read more

Media Release – 24/06/2020

Lafarge, OMV, VERBUND and Borealis join hands to capture and utilize CO2 on an industrial scale

Read more

News – 22/06/2020

Borealis receives Innovation Award 2020/2021 for Austria's most innovative companies

Read more

News – 15/06/2020

A solution to build back better after the Covid-19: The Circular Economy

Read more

Media Release – 10/06/2020

Stopping the spread together: Borealis and paper republic unite in sustainable face mask initiative

Read more

News – 09/06/2020

Construction of world-scale propane dehydrogenation plant in Kallo, Belgium: important project milestone reached

Read more

News – 28/05/2020

Borealis renews its excellent rating in EcoVadis sustainability assessment for the fourth year in a row

Read more

News – 28/05/2020

Port of Antwerp investigates potential for reducing CO2 emissions by 50% by 2030

Read more