Trelleborg must pay Euro 18 million tax bill - Judge

ERJ staff report (DS)

Trelleborg, Sweden -- A judge has ruled that Trelleborg was not entitled to carry-forward of about SEK 600 million (Euro 63 million) in taxes following a 1999 transaction. Trelleborg said it intends to appeal against the judgment in the Swedish Supreme Administrative Court.

If the judgement stands, the company would have to pay a bill of around SEK 168 million (Euro 18 million). Trelleborg said it did not earlier record this money as an asset in the company's accounts. Accordingly, the Administrative Court of Appeal's judgment will have no impact on the company's income statement or balance sheet.