STOCKHOLM, Dec. 19, 2002 (PRIMEZONE) -- On June 20, Stockholmsborsen received a writ from banks and brokerages concerning a demand for the refund of value added tax paid during the years 1993-2000 (see also press release dated 2002-06-20).
Yesterday, an arbitration court ruled that Helsinki Exchanges (HEX) is liable to reimburse brokers for the value added tax that HEX has been refunded for the years 1995-2000. Stockholmsborsen underlines that the facts of the Finnish arbitration differs totally from the ongoing Swedish proceeding between Stockholmsborsen and the banks and brokerages. Stockholmsborsen maintains that the claims made by the banks and brokerages lack foundation because, among other considerations, the banks and brokerages in question had, through reduced prices, already received compensation for the increased cost represented by the payment of VAT. Accordingly, Stockholmsborsen rejects all of the claims.
For further information Ulf Lindgren, Legal Counsel Tel +46 70 813 89 10
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http://www.waymaker.net/bitonline/2002/12/19/20021219BIT01750/wkr0001.doc
http://www.waymaker.net/bitonline/2002/12/19/20021219BIT01750/wkr0002.pdf