Pandora Settles Tax Issue With Danish Authorities

Pandora has reached a settlement with Danish authorities, which calls for the charm manufacturer to pay around $149 million in back taxes.

The dispute centered on a transfer pricing audit for the years 2009– 2014. Following a dialogue, Pandora agreed to pay up 995 million DKK, covering tax and interest and recognize a higher proportion of its profit in Denmark.

The settlement means Pandora’s tax rate for the 2015 financial year is expected to be 22 percent, as opposed to the 20 percent it noted in prior guidance.

JCK News Director