Information about recieving of Tax Control Decission

The Management Board of Orzeł Biały S.A. (hereinafter: “The Company”, “The Issuer”) hereby makes notice, with  reference to Current Report No 26/2019 of 21.08.2019 and Current Report No 41/2019 of 29.10.2019, about the decision of the Head of the Subcarpathian Customs and Tax Office at Przemyśl („the Authority”) whereby the Authority determined the amount of the loss of the Company in the corporate income tax in 2014, at 7.7 million PLN („The Decision”)

The Authority upheld the position expressed in the results of the inspections. The Issuer informed about the results of the inspections  in Current Report No 26/2019. In the opinion of The Authority, the inspected Company increased its tax deductible costs in 2014 by PLN 2.6 million resulting from a VAT invoice issued by Helidor sp. z o.o. for granting a license to use the copyrights to a trademark in 2013.

The Decision follows the Tax Inspection carried by the Head of the Subcarpathian Customs and Tax Office at Przemyśl, in terms of regarding the reliability of the declared tax bases and the correctness of calculations and payment of the corporate income tax in 2014”, about which The Issuer informed in current and interim reports. The Issuer cannot exclude that in the future The Decision may affect the results of The Company.

The Issuer is, together with legal and tax advisers, analysing in detail The Decision and will keep the public informed about further significant activities in this area in accordance with applicable regulations.


Article 17 Para. 1 MAR – Insider Information

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