Telit Communications PLC Appeal filed by Italian Tax Authorities (6779B)
January 12 2018 - 2:00AM
UK Regulatory
TIDMTCM
RNS Number : 6779B
Telit Communications PLC
12 January 2018
Telit Communications PLC
Appeal filed by Italian Tax Authorities
London, January 12, 2018 - Telit Communications PLC (AIM: TCM,
"Telit", "the Group"), announces that, further to the announcement
of 27 June 2017, the Italian tax authorities have submitted appeals
to the Italian Supreme Court with regard to past decisions by lower
level courts in favour of Telit Communications SpA ("Telit
Italy").
Two tiers of lower level tax court have previously found in
favour of Telit Italy in these matters. Telit Italy intends to
continue to vigorously defend its position. Telit Italy has been
advised that it is likely that the matters will not be heard by the
Supreme Court before 2022.
In December 2014, the Italian tax authorities issued three VAT
assessments against Telit Italy. Telit Italy filed appeals against
these VAT assessments with the first level tax court. The appeals
were upheld by the tax court in December 2015 and the assessments
were therefore annulled. The Italian tax authorities subsequently
filed an appeal against this decision, which was again rejected in
June 2017.
Enquiries:
Telit Communications PLC Tel: +972 3 7914000
Shir Stopper, Investor Relations
finnCap (Nomad and joint broker) Tel: +44 20 7220 0500
Henrik Persson/Giles Rolls (corporate
finance)
Tim Redfern/Richard Chambers (corporate
broking)
Berenberg (Joint Broker) Tel: +44 20 3465 2722
Chris Bowman/Mark Whitmore/Ben
Wright
Instinctif Partners Tel: +44 20 7457 2020
Adrian Duffield/Chantal Woolcock
About Telit
Telit (AIM: TCM), is a global leader in Internet of Things (IoT)
enablement connecting the world from the inside out. The company
offers the industry's broadest portfolio of integrated products and
services for IoT deployments - including cellular communication
modules in all technologies, GNSS, Wi-Fi, short-to-long range
wireless modules, IoT connectivity plans and IoT platform services.
Through the IoT Portal, Telit makes IoT onboarding easy, reduces
risk, time to market, complexity and costs for asset tracking,
remote monitoring and control, telematics, industrial automation
and others, across many industries and vertical markets
worldwide.
# # #
Copyright (c) 2017 Telit Communications PLC. All rights
reserved. Telit and all associated logos are trademarks of Telit
Communications PLC in the United States and other countries. Other
names used herein may be trademarks of their respective owners.
This information is provided by RNS
The company news service from the London Stock Exchange
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