/KASE, July 25, 2019/ – Kcell (Almaty), whose shares are officially listed on
Kazakhstan Stock Exchange (KASE), has provided KASE with the following
communiqué dated July 25, 2019:
quote
JSC Kcell ("Kcell" or the "Company") (LSE, KASE: KCEL), the leading provider
of mobile telecommunication services in Kazakhstan, announces that on 23
July 2019, the Supreme Court considered the petition, granted the petition and
overturned the decision of the Specialised Inter-District Economic Court and the
Court of Appeal in respect of an unjustified additional assessment of
Withholding Tax (WHT) for a non-resident (Sonera Holding B.V.) as a result of
the reorganisation of a legal entity; and an unjustified additional assessment
of WHT and VAT for non-residents for remote technical support services. With
regard to the remaining contested issues, the decision of the Specialised Inter-
District Economic Court and the Court of Appeal was upheld.
As a result of the Supreme Court decision, the KZT 9.0 billion provision for
taxes, penalties and fines will be reduced in total by KZT 5.0 billion,
comprising KZT 3.0 billion for unpaid taxes, KZT 0.2 billion in fines and a KZT
1.8 billion reduction of the penalty due to the expiration of the limitation
period.
unquote
This information is available on –
http://kase.kz/files/emitters/KCEL/kcel_reliz_250719_1.pdf
[2019-07-25]