Nokian Tax Ruling Declared Invalid
After appealing Finland’s Tax Administration’s decision to order Nokian Tyres plc to pay addition taxes, the tiremaker reported that The Board of Adjustment within Finland’s Large Taxpayers’ Office has declared the reassessment decision invalid and returned the matter back to the Tax Administration for reprocessing. Nokian was initially ordered to pay additional taxes totaling €100.3
Russian Economy’s Potential Impact on Tiremakers
Plummeting oil prices have had tremendous effects on Russia’s rouble exchange rate, causing economic tumult in the country. In turn, investors are growing increasingly concerned about a full-blown crisis, which could mean bad news for tire companies in the country such as Nokian Tyres PLC and Pirelli. Nokian has already felt the strain of an
