Business Services Industry
Autoliv Inc to recognise tax benefit of USD57m
Nordic Business Report, Sept 20, 2006
NORDIC BUSINESS REPORT-20 September 2006-Autoliv Inc to recognise tax benefit of USD57m(C)1994-2006 M2 COMMUNICATIONS LTD http://www.m2.com
The Swedish automotive safety systems developer and manufacturer Autoliv Inc said on Wednesday (20 September) that it will recognise a non-cash income tax benefit in its third quarter of some USD57m resulting from the release of reserves for income taxes.
As a result Autoliv will report an income from income taxes on the tax line in its income statement for the third quarter and an exceptionally low effective tax rate for the nine-month period and the full year of 2006, the company said.
One US dollar (USD) is worth approximately 0.52 British pounds (GBP).
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