Orange to Recover EUR2.2 Billion Following Tax-Dispute Ruling
14 November 2020 - 3:22AM
Dow Jones News
By Joshua Kirby
Orange SA said Friday that it welcomed a decision in its favor
from France's highest administrative court regarding a long-running
tax dispute.
Following the decision from the State Council, the French
telecommunications company will recover 2.2 billion euros ($2.6
billion) that it had paid in 2013 as part of the near decadelong
dispute. The funds will be used for purposes including an employee
share scheme and greater social commitments amid the current health
and economic crisis, Orange said. The payment, which won't be
subject to tax, will be recorded as current tax income and will
help bring down Orange's net debt.
The decision definitely closes the tax dispute case, Orange
said.
Write to Joshua Kirby at joshua.kirby@dowjones.com;
@joshualeokirby
(END) Dow Jones Newswires
November 13, 2020 11:07 ET (16:07 GMT)
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