The District Court rules in favor of Telenor in tax case

Oslo District Court has decided in favor of Telenor ASA in a tax case concerning
losses on settlement under guarantees for financing in the Indian subsidiary
Unitech Wireless. Telenor ASA deducted the loss in its tax return for 2013.

On 5 June 2019, Telenor ASA received a decision from the Tax Office disallowing
the deduction. As a result of the decision, a tax expense of NOK 2,491 million
was recognized in the accounts. The tax amount plus interest of NOK 166 million
was paid in 2019. Telenor ASA appealed the decision, and the Tax Appeal Board
upheld the ruling on 10 February 2021

Telenor ASA appealed the ruling to Oslo District Court. In a ruling received 28
March 2022, the Oslo District Court ruled in favor of Telenor and allowed
deduction for the losses in 2013.

The Norwegian government has a right to appeal the ruling. The authorities are
not obliged to repay the tax amount together with interest before there is a
final enforceable ruling from the courts.

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