BEIGENE Subsidiary to Pay Approximately 446 Million Yuan in Back Taxes, No Penalty Involved

Stock News06-26 18:08

BEIGENE (ASX: 06160) has announced that a wholly-owned subsidiary in China has received and agreed to a notice from local tax authorities regarding adjustments to previously filed tax returns.

The subsidiary will be required to pay back taxes, including late fees, totaling approximately 446 million yuan. The company has stated it will pay the full amount in a timely manner.

No Penalty or Restatement

The company clarified that this tax matter does not involve any administrative penalties. It also does not constitute a prior-period accounting error and will not require the restatement of any previously issued financial reports.

Financial Impact

The additional tax expense is expected to be recorded in the company's financial statements for the year 2026. The precise impact on net income attributable to shareholders for 2026 will be determined based on the audited financial statements for the year ending December 31, 2026.

Overall Assessment

BEIGENE stated that the matter is not anticipated to have a materially adverse effect on the company's financial condition, its ability to continue operations, or its normal business activities.

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