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Deutsche Post to pay 516 million euros in back tax
June 5, 2012 / 7:07 AM / 5 years ago

Deutsche Post to pay 516 million euros in back tax

FRANKFURT, June 5 (Reuters) - Deutsche Post DHL said it owes back taxes of 516 million euros ($644.79 million) which it can only partially offset with provisions made in recent years.

Europe’s biggest mail and express delivery company said on Tuesday it will pay the value-added-tax for the years 1998 through 2010 in the third quarter of this year, taking a net profit hit of 265 million euros.

The impact on earnings before interest and tax (EBIT) will be 180 million euros, but Deutsche Post still affirmed its full-year aim of posting EBIT of 2.5-2.6 billion euros.

$1 = 0.8003 euros Reporting by Maria Sheahan

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