Improved tax assessment

14.11.2007 - In our stock exchange release of 14 February 2007 we informed that Nutri Pharma had received a draft proposal from the tax authorities regarding change of the company`s tax assessments for the income years 2001-2003...

In our stock exchange release of 14 February 2007 we informed that Nutri Pharma had received a draft proposal from the tax authorities regarding change of the company`s tax assessments for the income years  2001-2003. The draft proposal would result in a partial preclusion of approximately NOK 175 million out of the company`s current tax losses carried forward which is total app. NOK 368 million per 31 December 2006.Our tax advisors have worked through the documents for the actual years together with the tax authorities. Today we have received a decision from the tax
authorities that reduces the partial preclusion for the actual period by approximately NOK 54 million
from NOK 175 million to NOK 121 million.The decision from the tax authorities also includes a penalty on future taxes payable of 30 %. For Nutri Pharma this means that the company can earn app.NOK 247 mill in the coming years without paying tax. Thereafter the tax will be raised by 30 % (from 28% to 36 %) for the next NOK 120 mill in profit.Nutri Pharma will appeal the decision and provide further evidence and documentation necessary to justify its tax claims towards the tax authorities
for the period 2001-2003.


For further information contact:
Trond Syvertsen, CEO  +47 23 31 08 80

Oslo, 14 November 2007
Nutri Pharma ASA