asknet Solutions AG: A ruling by the Federal Court of Finance against asknet solutions AG could result in an obligation for the Company to pay approximately EUR 764,000.00 to the German taxSeptember 14, 2020
Insider Information pursuant to Article 17 of the Market Abuse Regulation (MAR)
September 14, 2020, Karlsruhe (Germany) – The Management Board of asknet Solutions AG (Ticker symbol: ASKN, ISIN: DE000A2E3707, WKN: A2E370) has learned today from its legal advisors that a judgment of the German Federal Fiscal Court (Bundesfinanzhof) against the Company regarding a small amount of EUR 33.44 on issues relating to the entitlement to deduct value added tax (VAT/input tax) as well as the respective interest notices by the tax authorities will probably be applied by the tax authorities to similar cases of the past years and this would result in an obligation of the Company to pay interest to the tax authorities in the amount of approximately EUR 764,000.00 on already paid VAT.
The ruling concerns an appeal by the Company against a corrected VAT declaration for the year 2005, which the Company had submitted in 2011. Against the background that the tax court of first instance had decided in favor of the Company, the decision of the Federal Fiscal Court came as a surprise for the Company. In the case of an obligation to pay interest on arrears in the aforementioned amount, the Company will assess claims for damages against former Management Board members and its tax advisors.
Jan Schulmeister (CFO)