BRIEF-Telit Communications ‍Announces Update On Italian VAT Appeal​
March 19 (Reuters) - Telit Communications Plc:
* ‍UPDATE ON ONGOING LEGAL MATTERS WITH REGARD TO HISTORICAL VAT ASSESSMENTS IN ITALY​
* ‍IN ITALY, MERITS OF A TAX ASSESSMENT AND CERTAIN ASSOCIATED PENALTIES ARE ADDRESSED SEPARATELY FROM EACH OTHER​
* ‍TELIT INTENDS TO DEFEND ITS POSITION THAT VAT ASSESSMENTS SHOULD BE ANNULLED​
* ‍ITALIAN TAX AUTHORITIES ISSUED PENALTY DEEDS AGAINST TELIT IN AUGUST 2015​
* ‍INFORMED THAT FIRST LEVEL TAX COURT IN ITALY HAS REJECTED APPEALS FILED BY TELIT AGAINST THESE PENALTY DEEDS​
* TELIT COMMUNICATIONS - ‍INTENDS TO APPEAL AND TO VIGOROUSLY DEFEND ITS POSITION AND HAS BEEN ADVISED THAT ITS POSITION IN THIS MATTER REMAINS STRONG​
* ‍AGGREGATE VALUE OF PENALTY DEEDS REMAINS APPROXIMATELY EUR 5 MILLION​ Source text for Eikon: Further company coverage: (Reuters.Briefs@thomsonreuters.com)