Poland’s Cyfrowy Polsat has warned that its net profit will be reduced for the second quarter of this year.
In a statement, it says that this will be due to a flat rate taxation amounting to 3% of the tax base, applied to bonds issued by the company and its subsidiary Polkomtel (previously Spartan Capital Holding) during fixed periods.
It adds that this will be charged as a one-off item to the “Finance costs, net” line of the company’s consolidated income statement and will amount to PLN70.1 million (€16.3 million).
Cyfrowy Polsat comcludes by saying it and Polkomtel will have paid this to the Second Mazovian Tax Office in Warsaw by July 31.
