Eutelsat tax probe

Paris-based Eutelsat is reportedly facing an unexpected tax bill of an extra €27 million, according to a report in French news magazine L’Express.

The tax hit follows on from an audit of trading years 2009-2011 by the French tax authorities who were focused on a Eutelsat subsidiary in Madeira which enjoyed tax-free status until 2011, says the report. The story confirms that the French authorities were aware of the subsidiary which was part of Eutelsat’s international development and expansion plan.

Eutelsat, in the report, says it paid a total of €128 million in the last fiscal year, most of which went to France.

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