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News Releases |
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| Announced by Yuanta Financial Holdings on behalf of Yuanta Securities, the Supreme Administrative Court's decision regarding Yuanta Core Pacific's case on 2005 corporate income tax. |
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- Parties to the legal matter, name of the court, disposing agency, and
reference/case numbers of relevant documents:
Appellant: Yuanta Core Pacific Securities Co., Ltd.
Appellee: Taipei National Tax Administration, Ministry of Finance
Court of Jurisdiction: Supreme Administrative Court
Relevant document and case numbers: Pan No. 105, 2012
- Date of occurrence of the event: 2012/02/10
- Background and circumstances of the matter (including the property/subject matter under dispute): The Taipei National Tax Administration assessed additional income tax on Yuanta Core Pacific in 2005 due to the warrant premium, the tax deductibility of the cost related to warrant, and the allocation of public relations expenses and employee benefits to securities trading income.
- Course and progression of handling of the matter:
After applying for recheck, administrative appeal and administrative
litigation overruled by the Taipei High Administrative Court, Yuanta Core
Pacific appealed to the Supreme Administrative Court, which has notified us of its decision against us.
- Effect on company finances and business and estimated monetary amount of the effect:
Tax impact on the warrant portion: NTD1,172.768 mn
Tax impact on the allocation of public relations expenses and employee
benefits to securities trading income: NTD54.591 mn.
Since the company has already made provisions for the possible tax impact, the decision will neither affect profitability nor affect shareholder's
equity.
- Countermeasures and status of amelioration: Yuanta Securities will take
further actions after extensive discussion and consultation.
- Any other matters that need to be specified: Regarding the above case,
Yuanta Financial Holdings has published material information on Sep. 21, 2011 when the written judgment for the first trial was received.
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