The Supreme Administrative Court holds in its decision that HEX is not VAT-liable for trading fees collected from brokers by Helsinki Exchanges nor for clearing fees collected by the Finnish Cental Securities Depository.
HEX appealed to the Supreme Administrative Court over an advanced ruling by the Central Tax Board, according to which HEX would be liable for VAT on the said fees.
"This decision gives HEX an equal position with other European market participants, in addition to which it also further enhances our competitiveness", says Jukka Ruuska, President and CEO of HEX.
HEX's new price list with the net effect will become effective as from February 1, 2001.
