Determination of acquisition costs of Caverion shares for Finnish taxation purposes
In the partial demerger of YIT on June 30, 2013, YIT’s shareholders received Caverion shares as demerger consideration (1:1). In the Finnish taxation, the original acquisition cost of YIT shares is divided between YIT and Caverion shares. The acquisition cost depends on the original acquisition date.
YIT’s net assets were divided between YIT and Caverion in the partial demerger as follows:
- 77.37% stayed at YIT and
- 22.63% was transferred to Caverion
Example: If a shareholder purchased a YIT share before the partial demerger for a price of EUR 15.00, after the partial demerger the acquisition cost of YIT share is EUR 11.61 (77.37%) and Caverion share is EUR 3.39 (22.63%).
The above description of the determination of the acquisition costs is not applicable to non-Finnish resident shareholders. We recommend that shareholders who are tax resident outside Finland will seek advice from their own tax advisors or local tax authorities in order to determine the acquisition costs of the shares for their taxation purposes.
Read more (stock exchange release on August 16, 2013) »