CR 04/2020 Updated Information on the Audit Procedure Conducted by the Customs and Fiscal Office

Updated Information on the Audit Procedure Conducted by the Customs and Fiscal Office

Current report no: 04/2020

Date: 3 March 2020

Time: 6:11 p.m.

The Management Board of LPP SA informs that, on 3 March 2020, the Company received the results  of customs and fiscal audits carried out by the Head of the Customs and Fiscal Office for the Pomorskie Voivodeship in Gdynia in order to verify taxable bases declared and the correctness of CIT calculations and payments made for the years 2011, 2013 and 2016. As found by the authorities, the Company has adjusted tax returns for the above-mentioned years and, at the same time, paid additional tax liabilities in the amount of PLN 30,864,235, increased with interest for delay due.

The activities given above definitely close tax audits carried out in LPP SA for the above-mentioned years.

Simultaneously, the Company informs that the utmost goal of its operations is to maintain full tax transparency in all activities undertaken by LPP SA. In adherence to that principle, the Company has decided to conclude the agreement on cooperation under the provisions of law set forth in Chapter IIB of the Tax Ordinance Act with the Head of the National Tax Administration [Head of the NTA]. To that end, the Company plans to take action to obtain a positive opinion on the preliminary tax audit, being a condition for conclusion of the agreement in question. As a result of such activities, any and all tax operations of the Company will be carried out in agreement with, and upon approval of, the Head of the NTA, thus ensuring full transparency of activities undertaken by the Company.