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Softbank has emerged victorious in its battle with the tax office over returns for the years 1998 to 2002.

Softbank has emerged victorious in its battle with the tax office over returns for the years 1998 to 2002.

The disputed sum amounts to zł.10.44 million, plus statutory interest payments for two-and-a-half years. The Regional Administrative Court in Warsaw annulled the Warsaw Tax Office's decision from December 2004, which imposed the financial obligation on Softbank. The exact sum of the interest is not known, but according to Parkiet it could amount to zł.15 million.

The money will be paid to the bank in several installments and will heavily influence the company's financial results for this year. Softbank's consolidated profit in 2004 was less than zł.30 million. Analysts estimate that in 2005 the Softbank group will earn as much as zł.40-45 million. But the cash injection from the tax office could increase this figure by as much as 30-40%.

(WBJ 18.vii.05)

 
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