Media Release | MCH Group | Partial tax exemption revoked
(Thomson Reuters ONE) -
MCH Group AG /
Media Release | MCH Group | Partial tax exemption revoked
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The issuer is solely responsible for the content of this announcement.
MCH Group: partial tax exemption for the exhibition business in Basel to be
revoked
The tax administration of the Canton of Basel-Stadt has taken the decision to
revoke the partial tax exemption for MCH Swiss Exhibition (Basel) Ltd. - a
company belonging to MCH Group Ltd. - as of the end of 2020. From 2021 onwards,
the exhibition business in Basel that has been partially exempted from taxation
will be subject to tax. The time at which the tax regime is being changed has
been coordinated with the repayment of the loans granted by the Canton of Basel-
Stadt for the new Messe Basel hall complex, which the company has to repay by
2020.
It is not yet possible to say how much tax will be due in 2021 and subsequent
years under the new tax regime, and what influence this will have on the
consolidated group result of MCH Group. The further development of the company
and potential changes in the context of the planned corporate tax reform III
will not permit reliable forecasts for the period after 2021.
The current tax exemption for the exhibition business in Basel dates back to the
Swiss Sample Fair Cooperative that was founded in Basel in 1920. It has remained
in force for exhibition operations in Basel over the course of the Sample Fair's
development into the present-day MCH Group. This is because the purpose of the
company and the public interest in its activities have remained unchanged in
respect of its location of Basel. In the meantime, however, the tax authorities
have come to the conclusion that the exhibition business is fundamentally fully
taxable, despite being of major importance for the economy.
Contact:
MCH Group Ltd. / MCH Swiss Exhibition (Basel) Ltd
Christian Jecker , Corporate Communications
+41 58 206 22 52
christian.jecker(at)mch-group.com
www.mch-group.com
Download:
http://hugin.info/134007/R/2059409/771905.pdf
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The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: MCH Group AG via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 28.11.2016 - 07:15 Uhr
Sprache: Deutsch
News-ID 509261
Anzahl Zeichen: 2710
contact information:
Town:
Basel
Kategorie:
Business News
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