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Yahoo! My Yahoo! Mail Yahoo! Search Search: Sign InNew User? Sign Up News Home - Help Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Search Search: Intel handed $643 mln Danish tax bill: report AFP - Wednesday, April 8 COPENHAGEN (AFP) - - Intel, the US technology giant, has been handed a 643-million-dollar bill by tax authorities in Denmark over its disputed sale of a Danish company, the Jyllands-Posten daily reported Tuesday. ADVERTISEMENT The tax authorities want Intel to hand over 3.6 billion kroner (483 million euros) in unpaid taxes, alleging it sold the Danish technology firm Giga to one of its subsidiaries for a price well below the market rate, it reported. When a company completes a transaction with itself or one of its subsidiaries, it is bound by Danish law to pay the current market price. The aim is to prevent any capital gains when those assets are resold from being transferred to countries with more advantageous tax regimes. Intel, which originally bought Giga for 9.4 billion kroner in 2000, sold the company to a subsidiary for 1.9 billion kroner two years later. Investigators argue the actual value of that deal should have been 8.0 billion kroner more, a sum that would have incurred taxes of close to 2.5 billion kroner, the newspaper said. Authorities are also claiming interest on the unpaid tax bill, which brings the amount owed to 3.6 billion kroner. Intel disputes those claims and has already filed an appeal in the Danish courts, the Jyllands-Posten reported. When contacted by AFP, the Danish tax authorities declined to comment on the reports. Email Story IM Story Printable View Blog This Recommend this article 0 users recommend Sign in to recommend this article » Most Recommended Stories » Related Articles: Technology Taiwan's Elan sues Apple over touchscreen patentsReuters - Wednesday, April 8 Fox columnist axed after reviewing pirated flickAFP - Wednesday, April 8 US newspaper owners are "mad as hell"AFP - Wednesday, April 8 Growing threat from cyber attacks: US generalAFP - Wednesday, April 8 Madoff's Mets baseball tickets may soon go on eBayReuters - Wednesday, April 8 Enlarge Photo The logo of US semi-conductor company Intel. Intel, the US technology giant, has been handed a 643-million-dollar bill by tax authorities in Denmark over its disputed sale of a Danish company, the Jyllands-Posten daily reported Tuesday. Most Popular – Technology Viewed Journalists get shock with 'sexy' White House call World's first hands, face transplant Explosives chemical found in US baby formula Gloom grips markets braced for US earnings season Ailing lender RBS to cut up to 9,000 jobs View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Copyright © 2009 Yahoo! Southeast Asia Pte Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Privacy Policy - Terms of Service - Community - Intellectual Property Rights Policy - Help

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