Press release
Zurich, 20 May 2019
Investis to reverse CHF 61 million of deferred taxes
- Implementation of tax reform (TRAF) in Canton of Geneva to lead to reduced effective cantonal tax rate of 13.99% (previously 24.2%) from 2020
- Positive non-recurring impact of CHF 61 million on Group profit and shareholders' equity due to reversal of deferred taxes
- Significant increase in NAV per share of CHF 4.80
Investis expects to record tax income for the first half of 2019 as well as the full-year 2019 due to the reversal of CHF 61 million of deferred taxes. This non-recurring impact is attributable to yesterday's vote in the Canton of Geneva on a new tax law for legal entity, effective 1 January 2020.
Investis Holding SA will publish its Half-Year Report on 29 August 2019.
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