Ahold Delhaize receives Belgian tax bill of hundreds of millions

Ahold Delhaize receives Belgian tax bill of hundreds of millions

Ahold Delhaize has received a tax assessment in Belgium that can amount to 380 million euros. A passage about this in the supermarket conglomerate’s annual report, published early this year, went unnoticed until the Belgian business newspaper The time reported about it this Wednesday. Ahold Delhaize has objected to the additional assessment.

The case originated in 2018, two years after the merger between the Dutch Ahold (owner of Albert Heijn and Bol.com, among others) with the Belgian Delhaize. The merged company wanted to simplify its structure, thereby realizing cost savings. That is why it incorporated Delhaize’s US stores into the same company as the US Ahold stores. An internal shift, therefore, which in practice meant that subsidiary Delhaize sold its branches in the United States to parent company Ahold Delhaize.

The sale was made at a price that, according to the Belgian tax authorities, was not in line with the market. This saved the company money – money on which, according to the tax authorities, it should have paid taxes. Ahold Delhaize believes that the price was in line with the market. In that case, according to the tax rules in Belgium, no tax would be due. Ahold Delhaize supports its position with a report from an external appraiser, but that has been brushed aside by the tax authorities.

Ahold Delhaize writes in its annual report that the additional assessment is “completely unfounded”. “We will fight strongly against it.” The group sees several possibilities to appeal – whether or not legally – against the attack.

Compared to Ahold Delhaize’s net profit in 2020, the tax is a significant amount. The multinational, which has more than seven thousand branches in ten countries, left 1.4 billion euros on a turnover of 74.7 billion euros.

Ahold Delhaize receives Belgian tax bill of hundreds of millions
Source link Ahold Delhaize receives Belgian tax bill of hundreds of millions

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