Tax ruling gives NCC tax loss carryforward of SEK 605 million
12/17/2004 9:00 AM EST
The Swedish National Tax Board (Skatteverket) has decided to approve a tax loss carryforward of SEK 605 M. This ruling means that NCC will have the possibility of deducting a corresponding amount of tax.
The loss carryforward arose from the liquidation of the subsidiary Fastighets AB SIAB in 2002. The business, which at the time of the liquidation comprised a small-scale real estate operation, was transferred to SIAB AB.
When checking the liquidation, Skatteverket was able to determine a loss carryforward from business operations amounting to approximately SEK 605 million.
The loss carryforward will have a positive effect on taxes in the closing accounts for 2004. However, the positive effects will be limited by the estimated results of ongoing tax audits.
For further information, please contact:
Annica Gerentz, Senior Vice President, Corporate Communications, NCC Group,
+46 8 585 522 04, +46 70 398 42 09
Ulf Thorné, Press Relations Manager, NCC Group, +46 8 585 523 46, +46 70 214 77 27