Swedish retailer ICA, in which Dutch giant Ahold owns a majority stake, plans to appeal against a SEK1.2bn (US$173.8m) tax ruling.

ICA said today (10 December) that a court had supported a decision from the Swedish Tax Agency to deny the retailer interest deductions of around SEK3.5bn.

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ICA’s tax claim amounts to SEK1.2bn and the company said it would be appealing to the Administrative Court of Appeal.

“The County Administrative Court’s decision is naturally a disappointment to us,” said ICA’s general counsel Per Behm. “We and our legal advisors believe that we have complied with current laws.”

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