The Management Board of Orzeł Biały S.A. (hereinafter: “The Company”, “The Issuer”) hereby makes notice, with reference to Current Report No 6/2020 of 19.02.2020, Current Report No 41/2019 of 29.10.2019 and Current Report No 26/2019 of 21.08.2019, that as a result of the Company’s appeal, the Head of the Subcarpathian Customs and Tax Office at Przemyśl („the Authority”) issued a decision in which the Authority fully annulled previous decision, about which the Issuer informed in Current Report No 6/2020 and decided to refer the case back for reconsideration. The decision is final in the administrative procedure. The Issuer has the rights of appeal to provincial administrative court.
The Authority decided that, during the proces of reconsideration, it’s necessary to gather the evidence for reassessment of transactions in the light of the transaction prices
The Issuer cannot exclude possible future influence of the final result of the tax inspection on the Company’s financial statements, however, at current stage, it is impossible to estimate the exact level of the possible future influence.
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.
About future development of the case, the Issuer will inform in interim reports in accordance with the applicable rules of law. In case of any future development that may results in high probablility negative influence on the financial statements of the Company, The Issuer will provide the relevant information in current report.
Legal Basis
Article 17 Para. 1 MAR – Insider Information
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