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DSG Int. PLC (DXNS)

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Friday 27 February, 2009

DSG Int. PLC

Statement re Tax Ruling

RNS Number : 0543O
DSG International PLC
27 February 2009
 




27 March 2009 - PR 11/09

Strictly embargoed

For immediate release


DSG international plc


TAX RULING


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.


ENDS

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



This information is provided by RNS
The company news service from the London Stock Exchange
 
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