EQS-Adhoc: Tax Court rejects suspension of execution in REIT status proceedings - DKR has to make tax payments of around EUR 16.2 million
EQS-Ad-hoc: Deutsche Konsum REIT-AG / Key word(s): Legal Matter
Tax Court rejects suspension of execution in REIT status proceedings - DKR has to make tax payments of around EUR 16.2 million
17-Jul-2023 / 19:02 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
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Potsdam, 17. July 2023 - The Management Board of Deutsche Konsum REIT-AG ("DKR") (ISIN DE000A14KRD3) has learned today that the Berlin-Brandenburg Fiscal Court has rejected DKR's application to suspend the execution of the corporate income tax assessments for the years 2016 to 2021, the trade tax assessment notices for the years 2018 to 2021 and the notices for advance corporate income tax payments and trade tax assessment notices for the purposes of advance payments for 2022 and from 2023. The court declared the decision to be unappealable. In the opinion of the Berlin-Brandenburg Fiscal Court, serious doubts about the legality of the contested notices for DKR are not apparent.
Although the Potsdam tax office has not yet ruled on the appeals against the tax and advance payment notices on which these legal proceedings are based, DKR must now pay the corporate income tax and trade tax (including interest) assessed for tax years 2016 to 2020 and advance payments for tax years 2022 and 2023 totaling around EUR 16.2 million. DKR had already formed provisions for this in advance, which will have a negative impact on DKR's annual result in the same amount. The tax payments are to be made from available liquidity.
The payment obligation exists irrespective of the fact that the actual proceedings for REIT status as such are continuing in the main. DKR is currently reviewing all options with regard to the ongoing appeal and possible legal action.
Contact:
Deutsche Konsum REIT-AG
Mr. Christian Hellmuth
CFO
August-Bebel-Str. 68
14482 Potsdam
Tel. 0331 / 74 00 76 - 517
Fax: 0331 / 74 00 76 - 599
E-Mail: ch@deutsche-konsum.de
Although the Potsdam tax office has not yet ruled on the appeals against the tax and advance payment notices on which these legal proceedings are based, DKR must now pay the corporate income tax and trade tax (including interest) assessed for tax years 2016 to 2020 and advance payments for tax years 2022 and 2023 totaling around EUR 16.2 million. DKR had already formed provisions for this in advance, which will have a negative impact on DKR's annual result in the same amount. The tax payments are to be made from available liquidity.
The payment obligation exists irrespective of the fact that the actual proceedings for REIT status as such are continuing in the main. DKR is currently reviewing all options with regard to the ongoing appeal and possible legal action.
Contact:
Deutsche Konsum REIT-AG
Mr. Christian Hellmuth
CFO
August-Bebel-Str. 68
14482 Potsdam
Tel. 0331 / 74 00 76 - 517
Fax: 0331 / 74 00 76 - 599
E-Mail: ch@deutsche-konsum.de
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