Holmen AB is to appeal against a Stockholm court decision which will hit the timber firm with a tax charge of SKr640m.
The Stockholm County Administrative Court disallowed Holmen subsidiary Modo Capital AB’s depreciation deduction for the 1997 tax year.
Holmen said it had already made provision for the charge. “It is not anticipated that the judgement will have any impact on the group result,” it said.
Holmen is to appeal at the Administrative Court of Appeal.
