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HomeAlpiq GroupInvestor RelationsAd hoc announcements

Romanian tax authority has preliminarily assessed Value Added Tax and corporate income tax

08/14/2017, 07:00 | Ad hoc announcement pursuant to Art. 53 LR

Lausanne - After completing a tax audit on the Bucharest branch of Alpiq Energy SE, Prague, the Romanian tax authority ANAF (Agenția Națională de Administrare Fiscală) has preliminarily assessed an amount of EUR 175 million for Value Added Tax, corporate income tax and penalties for the period 2010 to 2014 according to a draft document released to Alpiq to comment on. A possible respective final decision by ANAF will be challenged by Alpiq making use of all available local and international legal means of redress.

The draft document is currently under detailed analysis by both legal and tax consultants in order to prepare the Alpiq defense and assess the Alpiq position. The total tax assessment amounts to EUR 175 million (RON 798 million), which is denied on the merits and to the extent of the amount assessed by the Romanian Tax authorities.

The draft decision is not enforceable and Alpiq will now submit its arguments against the assessment by ANAF and have discussions with tax inspectors on the merits of the case. A final decision may be issued once Alpiq has been given this right of defense against the position of ANAF.

Alpiq is firmly convinced that the activities of Alpiq Energy SE in Romania have always been carried out in accordance with the applicable Romanian and EU rules and regulations. A possible respective final decision by ANAF will be challenged by Alpiq making use of all available local and international legal means of redress.

Alpiq Energy SE will continue to remain active on the Central, Eastern and South-eastern European energy markets (CESEE). Alpiq Energy SE is headquartered in Prague in the Czech Republic, and is a subsidiary of the Alpiq Group. Its core business is energy trading and marketing of energy management services.

More information about Alpiq: www.alpiq.com