Ruling in Administrative Court of Appeal gives Skanska positive earnings effect of about SEK 400 M
A ruling in a tax case in the Administrative Court of Appeal is in favor of Skanska and approves the tax deduction claimed by Skanska. Consequently, the previous ruling in April 2001 by the County Administrative Court, which was in favor of the Tax Authority and disallowed the deduction, is overturned.
Press Release
2003-03-28
Ruling in Administrative Court of Appeal gives Skanska positive earnings effect of about SEK 400 M
A ruling in a tax case in the Administrative Court of Appeal is in favor of Skanska and approves the tax deduction claimed by Skanska. Consequently, the previous ruling in April 2001 by the County Administrative Court, which was in favor of the Tax Authority and disallowed the deduction, is overturned.
The case involved income tax for 1990, 1991 and 1993 and the deductions claimed by Skanska for the decline in value and other effects in the Polaris Aircraft Leasing limited partnership, in which Skanska is a limited partner.
According to Skanska's preliminary calculations, the ruling in the Administrative Court of Appeal, assuming that the ruling becomes legally effective, will have a positive earnings effect of about SEK 400 M for fiscal 2003. Preliminarily, the cash-flow effect is estimated at about SEK 750 M.
The ruling becomes legally effective during the second quarter of 2003, assuming that it is not appealed.
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For further information please contact:
Hans Biörck, CFO, Skanska AB, tel +46 8 753 88 00
Peter Gimbe, Press Officer, Skanska AB,
tel + 46 8 753 88 38