The settlement - which comes after the initiation of the procedure of international arbitration by the companies involved -coversalltheyearsunderdispute(2005to2014)withhighertaxestotalling120.2millioneuroplusinterest.Considering the provisions already made in recent years, the additional charge in this year’s accounts amounts to 31.2 million euro.
Given that the claims are of an evaluative nature, and recognising the diligent work and transparency of all involved companiesinprovidingdocumentaryevidence,theItalianRevenueAgencyhasacknowledgedthenon-applicationof any penalties.
Following the settlement, the Mediolanum Group, through the Irish subsidiary Mediolanum International Funds Ltd. will take steps to request a tax credit of about 41.5 million euro from the Irish tax authorities for the excess tax paid to that State.
Mediolanum’s decision to reach a settlement of the tax dispute with the Italian Revenue Agency is motivated by the desire to avoid prolonging the proceedings, thereby eliminating any uncertainty related to the outcome of the dispute.
Basiglio – Milano 3, December, 1 2015
| Contacts: Media Relations Rosamaria Salatino Tel +39 02 9049 2027 e-mail: rosamaria.salatino@mediolanum.it |
Investor Relations Alessandra Lanzone Tel +39 02 9049 2039 e-mail: investor.relations@mediolanum.it |
