Corporate | 15 June 2007 10:57
ARAGON AG / Miscellaneous Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. ---------------------------------------------------------------------- · Portfolio commissions to remain exempt from VAT under ruling by the German Federal Fiscal Court (BFH) · Decision of Fiscal Court of Düsseldorf now upheld by court of last instance Wiesbaden, 15 June 2007 The view of the Aragon management that there can be no difference with respect to value-added tax between so-called sales commissions and portfolio commissions has now been affirmed by the German Federal Fiscal Court (Bundesfinanzhof ) as the court of last instance. Originally the revenue authorities took the position that payments of commissions that are based on duration - generally called portfolio commissions or trail commissions - are subject to value-added tax. Not so, as the judges of the Fiscal Court of Düsseldorf had already ruled on 16 February 2005 and as has now has been affirmed by the Federal Fiscal Court on 5 June 2007. 'Since both commission components are earned solely by arranging the sale of investment funds, the logical consequence always seemed to us that the so-called portfolio commission must also remain exempt from value-added tax,' explains Aragon CEO Dr. Sebastian Grabmaier. Together with its subsidiaries, Aragon, as one of the leading firms speaking for the industry, had mounted an intensive campaign to argue before the responsible finance ministries of the German states, the Finance Committee of the Bundestag and the European Commission, in the VOTUM and BVI associations and before numerous local and regional tax offices in favour of portfolio commissions remaining tax exempt, thus achieving significant added value for the sales partners affiliated with the Aragon companies as well as for the Aragon shareholders. Contact: Achim Pfeffer Head, Investor Relations Aragon Aktiengesellschaft Kormoranweg 1 62501 Wiesbaden Tel: +49 (0) 611 890 575-574 Fax: +49 (0) 611 890 575-99 E-Mail: pfeffer@aragon-ag.de Contact: Aragon AG Achim Pfeffer Leiter Investor Relations Kormoranweg 1 62501 Wiesbaden Tel.: +49(0)611 890 575-574 Fax: +49(0)611 890 575-99 E-Mail: achim.pfeffer@aragon-ag.de DGAP 15.06.2007 ----------------------------------------------------------------------