Current Report No.: 41/2022
With reference to current report No. 40/2022 of 3 August 2022 on the audit of reliability of the declared tax bases and the correctness of calculation and payment of the tax on goods and services in Boryszew S.A. Boryszew ERG branch in Sochaczew for the period December 2015 to March 2016, the Management Board of Boryszew S.A. (Company, Issuer) advises that on 8 August 2022, having reviewed the result of the aforementioned audit submitted by Mazovian Customs and Fiscal Office in Warsaw, the Management Board chose to recognise a provision for tax risk with interest with regard the aforementioned procedure, in the total amount of app. PLN 30.3 million, with the total amount of the principal receivable including the provision for tax risk without interest being app. PLN 22.5 million.
At the same time, the Company advises that the decision to recognise the aforementioned provision is due to the Issuer’s prudent approach to accounting issues, while as a matter of principle the Issuer maintains the position of no merit to the determination of the overdue tax in the aforementioned amount and intends to challenge these findings in tax proceedings.
In addition, the Issuer advises that as at the date of preparation of this current report, preparation of consolidated financial statements of the Capital Group for the first six months of 2022 is still in progress and the final amount of the provision associated with the above mentioned tax proceedings will be included in this mid year report, which is scheduled for publication on 31 August 2022.
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.