Nokian to appeal tax bill

2nd January 2014 | 0 Comments
 

On 30 December, Nokian Tyres received the unwelcome news that a reassessment made by Finland’s Tax Administration has determined the company must pay €26.9 million in additional taxes, plus punitive tax increases and interest, for the year 2007. The full amount will be recorded in Nokian’s 2013 financial statement and results. The company says it will appeal the ruling, however should it be upheld Nokian’s corporate tax rate will rise over the next five years to the maximum rate of 22 per cent, rather than to the previously announced 17 per cent.

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