The Supreme Administrative Court has rejected Sanoma’s application for a permission to appeal the VAT treatment related to the distribution of certain magazines at Media Finland. The court upheld the administrative court’s decision regarding the VAT payment decision given by the Finnish Tax Adjustment Board related to the tax audits at Sanoma Media Finland Oy for years 2015–2018. The decision has no impact on Sanoma’s financials or free cash flow, as the VAT claims have been paid in 2021–2022 and booked in Sanoma’s result in Q2 2023. Sanoma considered the payment decisions unjustified and has appealed them, but the process is still ongoing.
Source: dailyfinland.fi
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