Norway's Telenor hit by tax reassessment expense of 2.5 bln Norwegian crowns
it will need to record an additional tax expense of about 2.5 billion Norwegian crowns ($278.44 million)
PHOTO: Telenor's logo is seen in central Belgrade, Serbia, March 21, 2018. REUTERS/Marko Djurica
Norway’s Telenor received a tax reassessment order for its 2013 tax year, under which it will need to record an additional tax expense of about 2.5 billion Norwegian crowns ($278.44 million), the firm said on Thursday.
“Telenor ASA received a reassessment order disallowing deduction for the loss Telenor ASA suffered in 2012 due to settlement of bank guarantees given in respect of external funding in its Indian subsidiary Unitech Wireless,” it said.
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