USD 7.5 million tax refund in the USA

Due to a new tax legislation of the US government in connection with the corona pandemic, Deutsche Rohstoff USA expects a tax refund in the amount of approximately USD 7.5 million in the coming months. This results from a newly created possibility to carry back operating losses to 2014.
rig and rods

Mannheim. Due to a new tax legislation of the US government in connection with the corona pandemic, Deutsche Rohstoff USA expects a tax refund in the amount of approximately USD 7.5 million in the coming months. This results from a newly created possibility to carry back operating losses to 2014. In 2014, the subsidiary Tekton Energy sold its assets at a high profit and made a tax payment of around USD 35 million. The tax change will contribute to an income at the level of Deutsche Rohstoff USA of USD 3 million in the current year and increase the deferred tax liabilities by around USD 4.5 million.

Mannheim, 16 April 2020

Deutsche Rohstoff identifies, develops and sells attractive raw material deposits in North America, Australia and Europe. The focus is on the development of oil and gas deposits in the USA. Metals such as gold, copper, rare earths, tungsten and tin complete the portfolio. Further information can be found at www.rohstoff.de

Contact
Deutsche Rohstoff AG
Dr. Thomas Gutschlag, CEO
Phone +49 621 490 817 0
info@rohstoff.de

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