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Tax court rejects suspension of execution in REIT status proceedings
DEUTSCHE KONSUM REIT-AG
(Incorporated in the Federal Republic of Germany)
(Registration number: HRB 13072)
FSE Share Code: A14KRD
JSE Share Code: DKR
ISIN: DE000A14KRD3
LEI: 529900QXC6TDASMCSU89
(“DKR” or “the Company”)
DISCLOSURE OF AN INSIDE INFORMATION ACC. TO ARTICLE 17 MAR
TAX COURT REJECTS SUSPENSION OF EXECUTION IN REIT STATUS PROCEEDINGS
– DKR HAS TO MAKE TAX PAYMENTS OF AROUND EUR 16.2 MILLION
The Management Board of DKR has learned yesterday that the Berlin-Brandenburg Fiscal
Court has rejected DKR's application to suspend the execution of the corporate income tax
assessments for the years 2016 to 2021, the trade tax assessment notices for the years 2018
to 2021 and the notices for advance corporate income tax payments and trade tax assessment
notices for the purposes of advance payments for 2022 and from 2023. The court declared
the decision to be unappealable. In the opinion of the Berlin-Brandenburg Fiscal Court, serious
doubts about the legality of the contested notices for DKR are not apparent.
Although the Potsdam tax office has not yet ruled on the appeals against the tax and advance
payment notices on which these legal proceedings are based, DKR must now pay the
corporate income tax and trade tax (including interest) assessed for tax years 2016 to 2020
and advance payments for tax years 2022 and 2023 totaling around EUR 16.2 million. DKR
had already formed provisions for this in advance, which will have a negative impact on DKR's
annual result in the same amount. The tax payments are to be made from available liquidity.
The payment obligation exists irrespective of the fact that the actual proceedings for REIT
status as such are continuing in the main. DKR is currently reviewing all options with regard
to the ongoing appeal and possible legal action.
DKR has a primary listing on the Prime Standard on the Frankfurt Stock Exchange and a
secondary listing on the JSE.
Contact:
Deutsche Konsum REIT-AG
Mr. Christian Hellmuth
CFO
August-Bebel-Str. 68
14482 Potsdam
Tel. 0331 / 74 00 76 - 517
Fax: 0331 / 74 00 76 - 599
E-Mail: ch@deutsche-konsum.de
Potsdam, 18 July 2023
JSE Sponsor
PSG Capital
Date: 18-07-2023 07:05:00
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