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KPN pays Dutch tax for 2010 in advance
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Den Haag, 1-3-10
KPN settled the preliminary Dutch corporate income tax assessment for 2010 by a prepayment of EUR 543 mn to the Dutch tax authorities in Q1 2010. As a result, KPN has benefitted from a EUR 6 mn discount based on the applicable Dutch tax legislation for such a prepayment. KPN has made the prepayment by using its temporary surplus cash position.
Last year, KPN also settled the preliminary Dutch corporate income tax assessment by a prepayment, instead of paying monthly installments. The prepayments in both 2009 and 2010 lead to an increased seasonality pattern in free cash flow on a quarterly basis.
