NeraTel receives bills of demand relating to tax liabilities of S$3.62m

Tay Peck Gek

Published Fri, Jan 14, 2022 · 08:12 PM

NERA Telecommunications N01 : N01 0% said its foreign subsidiaries have received bills of demand relating to tax liabilities for an estimated total amount of S$3.62 million.

The total tax liability payable pursuant to a tax audit conducted in 2021 is expected to have a material financial impact on the mainboard-listed group, the IT infrastructure provider with a market value of about S$45 million said in a regulatory filing on Friday (Jan 14).

Nera Telecommunications added that it is seeking tax advisers' opinions on the matter and is also engaged in negotiations with tax authorities to determine the final amount of tax liability payable.

The Singapore company with a global footprint in over 15 countries did not name the jurisdictions where the tax liabilities arose.

Shares of Nera Telecommunications closed S$0.003 or 2.4 per cent higher at S$0.128 on Friday, before the announcement was made.