Market announcement

Title

Court ruling for enforcement of a decision of the tax board

Message

The Tallinn Administrative Court today issued a ruling granting the Tax and
Customs Board the right to block 40% of the AS Kalev Real Estate Company shares
belonging to AS Kalev, in order to secure the Tax Board's claim for excessive
warehouse stock fees specified in the decision and tax notice of 29 March 2007
issued by the Tax and Customs Board's Northern tax and customs centre (Põhja
MTK). 
 
The above decision and tax notice of the Põhja MTK was suspended by the
Administrative Court with its ruling of 30 April 2007. In issuing its ruling,
the Court found that the suspension of the decision of the Põhja MTK on the
grounds of initial legal protection was valid, as the claim for the fee for
excessive goods in stock was debatable and there were no grounds for
considering AS Kalev's challenge hopeless (see AS Kalev's press release of 2
May 2007 on the court's suspension of enforcement of the Tax Board decision). 

Last December, the Tallinn Administrative Court suspended proceedings on AS
Kalev's challenge of the decision and tax notice of the Põhja MTK from 29 March
2007, in connection with applying for a preliminary ruling from the European
Court of Justice. 

Today's Tallinn Administrative Court ruling can be appealed within 10 days.


Allan Viirma
616 1916
Head of the legal service