Comptel Corporation Stock Exchange Release, 20 May 2016 at 3.30 PM EET
Comptel has received a favourable ruling from India’s Income Tax Commissioner (CIT) regarding withholding tax for Indian tax years 2010-2011. Based on this ruling Comptel's preliminary estimate is that India tax authorities should return approximately 1.5M EUR in withholding tax and interest.
Comptel will include the tax ruling impact in its financials once the refund procedure has been specified.
Previously, as published in the stock exchange release on 15 April 2016, Comptel received a favourable ruling in Delhi judicial court regarding withholding tax for Indian also for tax years 2007-2008 and 2008-2009. The company has still pending appeals for subsequent fiscal years. This ruling removes double taxation for Comptel in India.
For further information, please contact
Juhani Hintikka, President and CEO, tel. +358 9 7001131
Distribution:
NASDAQ OMX Helsinki
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