27th Jun 2017 11:05
27 June 2017
Telit Communications PLC
Appeal filed by Italian tax authorities rejected by appeals court
Telit Communications PLC (AIM: TCM, "Telit", "the Group"), announces that, further to the announcements made on 5 December 2014 and 14 December 2015, the Italian tax authorities' appeal against annulling three VAT assessments for Telit Communications SpA ("Telit Italy"), has been rejected.
In December 2014, the Italian tax authorities issued three VAT assessments. Telit Italy filed appeals against these VAT assessments with the first level tax court. The appeals were upheld by the tax court in December 2015 and the assessments were therefore annulled.
The Italian tax authorities subsequently filed an appeal against the tax court's decision to uphold Telit Italy's appeal, which has now been rejected as well.
For further information:
Telit Communications PLCOozi Cats, CEO Yosi Fait, Finance Director & President | Tel: +39 06 4204601 |
Canaccord Genuity Limited (Nominated Adviser and Joint Broker) Simon Bridges/Martin Davison | Tel: +44 20 7523 8000 |
Berenberg (Joint Broker) Chris Bowman/Ben Wright | Tel: +44 20 3465 2722 |
Instinctif Partners Adrian Duffield/Chantal Woolcock
| Tel: +44 20 7457 2020 |
About Telit
Telit, is the global leader in Internet of Things (IoT) enablement. The company offers the industry's broadest portfolio of integrated products and services for end-to-end IoT deployments - including cellular communication modules in all technologies, GNSS, short-to-long range wireless modules, IoT connectivity plans and IoT platform services. Through the IoT Portal, Telit makes IoT onboarding easy, reduces risk, time to market, complexity and costs for asset tracking, remote monitoring and control, telematics, industrial automation and others, across many industries and vertical markets worldwide.
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