April: proposed rectification from French tax authorities
(CercleFinance.com) - April has announced a proposal for a rectification by the French tax authorities, following investigations carried out for the fiscal years 2007 to 2015 concerning the territoriality of the reinsurance activity of its subsidiary Axeria Re, which is located in Malta.
The interpretation currently considered by the authorities leads to a reminder of 69.8 million euros, which is not due at this stage. The insurance services group intends to assert its arguments and to ensure the defence of its interests.
April is currently studying the various courses of appeal at its disposal, and at this stage plans to book a provision of 15 million euros in its 2018 accounts. The group confirms growth in operating profit that will be at the top of a target range of 6% to 10%.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The interpretation currently considered by the authorities leads to a reminder of 69.8 million euros, which is not due at this stage. The insurance services group intends to assert its arguments and to ensure the defence of its interests.
April is currently studying the various courses of appeal at its disposal, and at this stage plans to book a provision of 15 million euros in its 2018 accounts. The group confirms growth in operating profit that will be at the top of a target range of 6% to 10%.
Copyright (c) 2018 CercleFinance.com. All rights reserved.