RNS Number : 0543O
DSG International PLC
27 February 2009
27 March 2009 - PR 11/09
For immediate release
DSG international plc
DSG international plc has been in dispute with HM Revenue & Customs ('HMRC') regarding certain intra group trading arrangements in the years 1997 to 2005.
The Special Commissioners have concluded on the case and have found in part in favour of HMRC, but have not ruled in respect of the amount owing by DSGi. DSGi, with the support of its legal advisers, considers that the Group's position is robust. DSGi expects to appeal in the High Court against the Commissioners' decision.
The decision from the Special Commissioners in the meantime requires HMRC and DSGi to agree the amount of tax implicit in their decision. Given the complex process to determine and agree such amounts, DSGi cannot at this stage confirm the timing or the amount that may fall due, if any. However, DSGi currently believes that this decision will not have a material impact on the financial position of the Company. DSGi has an income tax receivable of £58.8 million on the balance sheet, representing tax that has been paid in excess of that due.
For further information:
David Lloyd-Seed Group Communications Director, DSGi 01727 205 065
Mark Webb Head of Media Relations, DSGi 01727 205 019
Information on DSG international plc is available at http://www.dsgiplc.com
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