In Germany, the trial regarding illegal conduct and violations of tax rules in the former Com group of Siemens AG has concluded. Siemens has been fined 201 million euros, and the company has waived its right to appeal.
The investigation found that total payments in the former Com group of approximately 450 million euros cannot be deducted for tax purposes, thus a tax of 179 million euros is imposed. Of that amount, 168 million euros has already been included in the company’s financial statements for 2006 for questionable payments amounting to approximately 420 million euros.
Siemens has accepted responsibility and supported the investigation by waiving the possibility of appeal, all with the aim of preventing further illegal activities in related cases and other groups of the company. (M.N.)
