Business Services Industry
Ericsson's bookkeeping practices under investigation
Nordic Business Report, March 20, 2002
NORDIC BUSINESS REPORT-20 March 2002-Ericsson's bookkeeping practices under investigation (C)1994-2002 M2 COMMUNICATIONS LTD http://www.m2.com
Sweden's Economic Crimes Bureau has launched a preliminary investigation to find out whether the bookkeeping practices of Ericsson amounted to tax obstruction.
The investigation will focus on invoices from 1999 worth SEK2.5bn. The money was paid to mostly foreign marketing consultants, but the tax authorities believe the consultants were just payment intermediaries. However, chief prosecutor Lage Carlstrom says the investigation is still in its infancy and no conclusions should yet be drawn.
Ericsson claims there is no basis for a preliminary investigation, reports The Associated Press.
((Comments on this story may be sent to nbr.feedback@nordicbusinessreport.com))
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