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2016-01-15

Atlas Copco: Atlas Copco makes provision following European Commission's decision on Belgium's tax rulings

Stockholm, Sweden, January 15, 2016: Following the European
Commission's decision on certain Belgian tax rulings, Atlas Copco
plans to include a provision of MEUR 300 (MSEK 2 780) in the Q4 2015
accounts.

On January 11, 2016, the European Commission announced its decision
that Belgian tax rulings granted to multinationals with regard to
"Excess Profit" shall be considered as illegal state aid and that
unpaid taxes should be returned to the Belgian state. Atlas Copco has
such tax rulings since 2010.

"Atlas Copco always strives to be a good and reliable corporate
citizen, observing the spirit and the letter of the laws of the
countries in which we operate," said Ronnie Leten, President and CEO
of the Atlas Copco Group. "This we have done also in Belgium. We are
disappointed, disagree with the decision of the European Commission,
and are considering the possibility to appeal."

For more than 50 years, Belgium has been Atlas Copco's global center
for compressed air technology. The company has 3 000 employees in the
country. Atlas Copco complies with all Belgian tax laws and has based
its financial and operational plans on this regulatory framework.
Atlas Copco is among the largest tax payers in Belgium, even after
applying the tax rulings. Belgium's nominal corporate income tax of
34% is high relative to most OECD countries, but deductions and
exceptions are available to tax payers.

As a result of the European Commission decision, Atlas Copco plans to
include a provision of MEUR 300 (MSEK 2 780) in the Q4 2015 accounts.
The amount fully covers the potential liability for the years
2010-2015 and should be viewed against the fact that Atlas Copco has
not yet received a specific claim, nor information from the European
Commission or the Belgian government as to what methodology should be
used to establish the amount of taxes to be paid. Furthermore, it
does not reflect the possibility that the European Commission's
decision may be appealed to the European Court of Justice.

Atlas Copco expects that information about how the tax amount should
be established will become available in the coming weeks. Payment of
the claimed tax amount will likely take place during Q2 2016
independent of whether or not appeals are made against the decision.

Going forward, Atlas Copco estimates that the decision will increase
the Group's effective tax rate by approximately 3.5 percentage
points.

Further updates on this topic will be given in connection with Atlas
Copco's Q4 2015 report on January 28, 2016.

For more information please contact:
Mattias Olsson, Vice President Investor Relations
+46 8 743 8295 or +46 72 729 8295
ir@se.atlascopco.com
Ola Kinnander, Media Relations Manager
+46 8 743 8060 or +46 70 347 2455
media@se.atlascopco.com

Atlas Copco discloses the information provided herein pursuant to the
Securities Markets Act and/or the Financial Instruments Trading Act.

Atlas Copco is a world-leading provider of sustainable productivity
solutions. The Group serves customers with innovative compressors,
vacuum solutions and air treatment systems, construction and mining
equipment, power tools and assembly systems. Atlas Copco develops
products and services focused on productivity, energy efficiency,
safety and ergonomics. The company was founded in 1873, is based in
Stockholm, Sweden, and has a global reach spanning more than 180
countries. In 2014, Atlas Copco had revenues of BSEK 94 (BEUR 10.3)
and more than 44 000 employees. Learn more at www.atlascopco.com.

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http://news.cision.com/atlas-copco/r/atlas-copco-makes-provision-followi...
http://mb.cision.com/Main/90/9897035/465471.pdf

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