TEF Telefonica SA

By Mauro Orru

Telefonica SA said Tuesday that Spanish tax authorities would return 1.32 billion euros ($1.30 billion) to the company for overpayments it made more than a decade ago.

The Spanish telecommunication company said it would receive a EUR790 million refund for tax payments made between 2008 and 2011, with an additional EUR526 million as interest.

Telefonica had long been at loggerhgeads with Spanish tax authorities, taking the case to court in an attempt to secure a rebate from the treasury.

Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94

(END) Dow Jones Newswires

October 25, 2022 12:52 ET (16:52 GMT)

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