Finland’s Metso Corp. to Get 14 Million Euro Tax Refund

Metso Corp. will get back two-thirds of the taxes it paid to the Finnish Tax Authority last year, following the agency’s decision to accept the company’s appeal.

The Helsinki-based industrial machinery company will receive a tax refund of 14 million euros ($15.65 million) and will recognize the gain in the second quarter, Metso said in a May 3 statement.

The refund comes after the Finnish Tax Authority in 2017 demanded Metso pay 21 million euros in additional taxes, interest, and penalties after an audit of the company’s 2011-2016 intercompany transactions between its subsidiary Metso Minerals Oy and Metso Minerals’ ...