Metso comments on impact of US tax reform legislation

Metso has said that the US tax reform legislation will have a favourable impact on the company’s tax rate going forward. In the financial year 2017, the change will reduce its deferred tax asset. The new legislation includes a reduction in the USA federal corporate income tax rate from 35 percent to 21 percent from the beginning of the tax year 2018.

According to a preliminary analysis, the company estimates to report a reduction in deferred tax asset of approximately €10 million ($12 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. In addition, it does not impact the time frame when the deferred tax asset is expected to be utilized.

Source

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