Elettronica
Decision in tax proceedings relating to Vacon Plc's transfer pricing
Vacon Plc, Stock Exchange Release, 10 April 2013 at 2.15 pm (EET)
Vacon Plc, the parent company of Vacon Group, has had tax proceedings in progress relating to a tax inspection of its transfer pricing in 2007 - 2008. According to information received by Vacon from the Finnish Large Taxpayers' Office, after examining the case the tax authority has stated that it is not demanding a correction from Vacon to its taxation in 2007 - 2008. The tax authority has previously given up its demands in relation to 2006.
In its interim review, Vacon assessed these tax proceedings as one of the key risks and uncertainties facing the company in the near future. On the basis of the decision obtained now, Vacon considers that there are no risks or uncertainties relating to this matter.
VACON PLC
Further information:
Vacon in brief
Vacon is driven by a passion to develop, manufacture and sell the best AC drives and inverters in the world - and provide customers with efficient product lifecycle services. Our AC drives offer optimum process control and energy efficiency for electric motors. Vacon inverters play a key role when energy is produced from renewable sources. Vacon has production and R&D facilities in Europe, Asia and North America, and sales offices in 29 countries. Further, Vacon has sales representatives and service partners in nearly 90 countries. In 2012, Vacon's revenues amounted to EUR 388.4 million, and the company employed globally approximately 1,500 people. The shares of Vacon Plc (VAC1V) are quoted on the main list of the Helsinki stock exchange (NASDAQ OMX Helsinki).
Driven by Drives, www.vacon.com
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