Nycomed Tax Claim May Be Cut

Norwegian pharmaceutical group Nycomed is expecting to see a reductionin the 230 million Norwegian kroner ($31.6 million) claim made by the local tax authorities in July after the latter informed the company of its decision to reassess the situation.

The original assessment of the tax treatment related to shipping investments made by Hafslund Nycomed at the end of the 1980s, whereas further evaluation is to be carried out, according to Nycomed, "with a more limited content than previously indicated." The company is predicting a much-reduced tax claim of about 40 million kroner, of which Hafslund would be liable for 20%.