Current report no: 12/2022
The Management Board of Boryszew S.A. (Issuer) advises that on 19 April 2022 Issuer’s subsidiary – ZM SILESIA S.A. received a decision from the Head of the Małopolska Customs and Fiscal Office (Office) in Kraków of 6 April 2022 determining the outstanding VAT liability of ZM SILESIA S.A. (ZM SILESIA) for the first half of 2015 in the amount of PLN 34.9 million, plus interest due for outstanding tax liability.
As argued by the Office, ZM SILESIA should not have reduced its output tax by the input tax shown on invoices issued by some contractors who were alleged to have been involved in a chain of transactions with the aim of effecting tax evasion. At the same time, the Office stated that ZM SILESIA had not acted with the so-called ‘good faith’, which would nevertheless help them maintain the right to deduct input tax despite the occurrence of tax irregularities at earlier stages of the disputed supplies.
The decision in question is non-final and not enforceable. Given the different assessment of the above circumstances, the Company will use the available appeal means to challenge the above decision of the Office.
Information on pending tax proceedings against ZM SILESIA was included in the Issuer’s periodic reports.
Legal attitude: Article 17 section 1 MAR – Confidential information.
Signatures:
Wojciech Kowalczyk – President of the Management Board
Translation from the original Polish version.
In the event of differences resulting from the translation, reference should be made to the official Polish version.