Turkey’s Dogan Media Group (DHY) has been ordered to pay TRY919.3 million (€463.7 million) in back taxes and fines dating back to 2006.
According to Hurriyet, the ruling is the last involving the transfer of DMG certificates. While the group’s objections to a tax debt of TRY330 million have been accepted, objections to tax debts of TRY294 million and a fine of TRY625 million were both overruled.
DMG has said this is the first time that VAT has been charged on the transfer of interim certificates that were issued in place of common stock. It has also said it will appeal the decision and request a suspension of execution.
DHY is one of the leading media groups in Turkey and includes the DTH platform D-Smart, three channels – CNN Türk, TNT and Cartoon Network – and the interactive TV channel FIX TV among its interests.