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- Stock Exchange Release
- 21.06.2006 13:45 CET
THE SUPREME ADMINISTRATIVE COURT?S RULING ON YIT?S RESIDUAL TAXES FOR 1997
STOCK EXCHANGE RELEASE, JUNE 21, 2006 14:45
THE SUPREME ADMINISTRATIVE COURTS RULING ON YITS RESIDUAL TAXES FOR 1997
The Supreme Administrative Court granted YIT a leave to appeal concerning the ruling by the Administrative Court on May 27, 2004 to brought into force the residual taxes levied in 1997. After hearing the appeal the Supreme Administrative Court ruled by a majority of votes 4-3 that the ruling of the Helsinki Administrative Court is to remain unchanged. According to the ruling, YIT Corporation is not entitled to deduct the confirmed tax losses of its merged subsidiary.
This ruling of the Supreme Administrative Court has no influence on YIT Corporations financial result of 2006, since the residual taxes paid were recorded in the financial result for 2002.
Stock exchange bulletins on this matter have been previously released on March 14, 2002, December 31, 2002, March 3, 2003 and June 1, 2004.
YIT CORPORATION
Sakari Toikkanen Executive Vice President
For additional information, contact; Simo-Pekka Niemi, Vice President, Corporate Accounting, phone +358 20433 3517, simo-pekka.niemi@yit.fi
Distribution: Helsinki Exchanges, principal media, Financial Supervision, www.yit.fi