Message says in its press release that it has received a VAT payment decision from the tax administration based on the tax audit carried out at Sanoma Media Finland Oy for the years 2019–2021. The tax audit concerned the VAT treatment of magazines printed in different parts of Europe and processed and distributed in the Norwegian logistics center.
The company says that it considers the demands to be completely unfounded and that it will appeal the decision.
Sanoma says that based on the decision received, it will pay around 11 million euros in value added tax, tax increases and interest by the end of 2022 in order to avoid the accumulation of additional interest. For the purpose of paying the dividend, the group’s free cash flow for 2022 will be adjusted by the amount of tax paid.