Turkish Finance Ministry, Dogan agree on huge tax fine

Doğan Holding has said it has come to a "pre-assessment agreement" with the Finance Ministry, which had claimed Doğan owed some TL 61.6 million in unpaid taxes for the years 2005-2008.

Turkish Finance Ministry, Dogan agree on huge tax fine

World Bulletin / News Desk

Doğan Holding -- the owner of Turkey's largest media group, Doğan Yayın Holding (DYH) -- has said it has come to a “pre-assessment agreement” with the Finance Ministry, which had claimed Doğan owed some TL 61.6 million in unpaid taxes for the years 2005-2008.

In a written statement to the İstanbul Stock Exchange's (İMKB) Public Disclosure Forum (KAP) on Tuesday, the company said a total amount of TL 10.6 million will be paid in a month. With this payment, the Finance Ministry will consider the holding's entire debt as paid, and the holding will forego the legal proceedings it had planned.

“According to the agreement, for all the years examined a total amount of TL 10.6 million -- the sum of TL 6.7 million in taxes and TL 3.9 million in fines -- will be paid in a month. Consequently, following the payment resulting from the agreement, the tax audits of our company for the years 2005-2008 will be completed,” the company said in its statement.

The company has been under the spotlight for irregularities in DYH's accounts, for which auditors from the Finance Ministry ruled the group had to pay TL 4.8 billion in outstanding taxes and fines. The company appealed the fines and following three different court rulings, Doğan was charged TL 2.2 billion of this amount. Taking interest into account, the total amount is more than TL 3.5 billion.

Last Mod: 29 Aralık 2010, 17:47
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