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