The Administrative Court in Stockholm has granted Holmen the right to tax deductions linked to the Group’s previous operations in Spain. The decision will have a positive impact on the Group’s profit after tax of approximately SEK 400 million in the third quarter.
Holmen has claimed group deductions for tax losses in the Group’s Spanish subsidiaries after operations in the country were discontinued. The Swedish Tax Agency has denied the right to deductions. Holmen has appealed the Swedish Tax Agency’s decision and the Administrative Court in Stockholm has now found that Holmen is entitled to the deduction. The judgment will become final in two months unless it is appealed before then.
