In a press release dated 3 April 2000, OM provided information that stock market trading is exempted from VAT and that VAT paid during the period 1995-1998 will be refunded. The Tax Authority in Stockholm County has now decided that VAT will also be refunded in respect of the period 1 January 1999 to 29 February 2000. The refund will have a positive effect on profits of approximately SEK 40 million.
The Tax Authority also decided not to grant a refund for the years 1993 and 1994, on the ground that Sweden was not a member of the EU at that time. This decision will be appealed by OM.
