After the inspection, the tax of the subsidiary of Idea Bank should be PLN 150.5 million higher

Idea Money, a subsidiary of Idea Bank, received the results of a tax audit in which it was established that the difference in the tax payable for 2018 is PLN 150.5 million – Idea Bank announced in a release.

“The company has the right to submit a correction of the previously submitted tax declaration in a manner consistent with the inspection findings. If no correction is made, the completed customs and tax inspection will turn into tax proceedings” – it was written in the release.

Idea Bank announced that the need to submit an adjustment to the tax declaration is to be associated with the cross-border merger transaction with Idea Investment Sarl made on December 31, 2018.

“According to the position of the authority, the acquisition by the company in 2018 of the assets of Idea Investment Sarl by merger is a transaction that was not carried out for justified economic reasons, and therefore did not meet the criteria for accounting for it as a tax neutral transaction. the value of the assets of Idea Investment Sarl, taken over by the company as a result of the merger, for income from capital gains, taxable at 19% at the tax rate “- it was written in the press release.

“The Issuer cannot exclude that in the future the control results, with the decision unfavorable for the Company, may affect the Issuer’s results” – added. (PAP Biznes)

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