A company statement read: “On December 22, 2017, President of the United States signed tax reform legislation which includes, among other things, a reduction in the USA federal corporate income tax rate from 35 percent to 21 percent from the beginning of the tax year 2018.
“The change will have a favourable impact on Metso's effective tax rate going forward. In the financial year 2017, the change will reduce Metso's deferred tax asset. According to a preliminary analysis, Metso estimates to report a reduction in deferred tax asset of approximately €10 million in Q4 2017 and a corresponding deferred tax expense in the income statement.
“The change in the deferred tax asset does not have any cash flow effect. Additionally, the change does not impact the time frame when the deferred tax asset is expected to be utilised.”
