Several of the claims made by the tax authorities are solely related to the usage of tax deduction over time, these deductions can be used at a later time, a so called time delay, when of case of not being able to use the deductions for the claimed years.
On well-substantiated facts, after consulting Industriförvaltnings AB Kinnevik's tax experts at PriceWaterhouseCoopers, the assessment is that Industriförvaltnings AB Kinnevik after appeal will get approval for most of its claims.
Tax authorities as well as PriceWaterhouseCoopers believe that this kind of tax process being appealed to Supreme Administrative Court takes at least 5-7 years before final conclusion, after final examination.
Respite for all tax payments will be asked for and the request is expected to be granted.
Stockholm, January 4, 2000
INDUSTRIFÖRVALTNINGS AB KINNEVIK
President & CEO
For further information:
Vigo Carlund +46-8 562 000 00