14.02.2007 - Nutri Pharma ASA has received a draft proposal from the tax authorities regarding change of the company`s tax assessments for the income years 2001-2003....
Nutri Pharma ASA has received a draft proposal from the tax authorities regarding change of the
company`s tax assessments for the income years 2001-2003. The tax authorities challenge the
intra-group allocation of expenses related to the company`s comprehensive Research and
Development activities in the period in question. The company has been asked to provide
satisfactory documentation regarding the allocation of expenses between the company and
its foreign subsidiaries.
A possible result in line with the proposal from the tax authorities may result in a partial
preclusion of approximately NOK 175 million out of the company`s current tax losses carried
forward which totals appr. NOK 359 million per 31 December 2005, with possible future accompanying penalty tax. The net deferred tax assets have not been recognised in the Balance
Sheet of Nutri Pharma as per 31.12.2005.
Nutri Pharma is in the process to provide the evidence necessary to justify its tax claims
towards the tax authorities for the period 2001-2003.
For further information contact:
Trond Syvertsen, CEO +47 9172 1457
Oslo, 14 February 2007
Nutri Pharma ASA