SEK 212 million energy tax liability for Boliden
BOLIDEN, Sweden -- May 17, 2013
As previously announced by Boliden (STO:BOL)(TSX:BLS) (11 Feb. 2013), the
Swedish Tax Agency had stated, after a preliminary review, that it intended to
impose an energy tax liability of SEK 212 million, plus interest, on Boliden
for the improper use of dyed diesel at the Aitik mine during the period from
April 2009 to October 2012. On 10 May 2013, the Swedish Tax Agency announced
its decision to impose a liability in accordance with this review.
Boliden has stated that the error was purely administrative in nature and that
the tax liability now imposed is disproportionate to the nature and scale of
the error. The company has derived no financial gain from using wrongly dyed
diesel and that the correct tax has been paid in accordance with the
legislator’s intentions. When the mistake was discovered in October 2012,
Boliden immediately contacted both the supplier in order to switch to the
correctly dyed diesel, and the Swedish Tax Agency in order to inform them of
what had happened.
Boliden intends to appeal the ruling and no provision has consequently been
Boliden is a metals company with a commitment to sustainable development. Our
roots are Nordic, but our business is global. The company’s core competence is
within the fields of exploration, mining, smelting and metals recycling.
Boliden has a total of approximately 4,800 employees and an annual turnover of
approximately SEK 40 billion. Its shares are listed on NASDAQ OMX Stockholm,
segment Large Cap.
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