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Telit Communications settles Italian VAT dispute

Telit's Italian subsidiary will pay €400,000 to close the matter without any admission of liability.

Euros
Dispute dates back to 2004-2007

Telit Communications PLC (LON:TCM) has settled its VAT dispute with the Italian authorities for the 2004-2007 tax years.

Telit's Italian subsidiary will pay €400,000 to close the matter without any admission of liability.

The internet of things specialist added it continues vigorously to defend its position on €5mln tax penalty deeds separately issued against the company in August 2015.

Telit has been advised that its position in this matter remains strong, it said in today's statement.

Quick facts: Telit Communications PLC

Price: 152 GBX

AIM:TCM
Market: AIM
Market Cap: £2.02 m
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