The interim accounts of computer hardware retailer Smart Tunisie show a net balance sheet total of TND 196,606,028, positive equity of TND 93,917,369, including a profit for the period of TND 8,454,464.
It should be noted that at the end of June 2023, Smart’s operating profit was down by 1,485 year on year (yoy) and that profit for the period was also down by TND 945,638 yoy.
The company’s auditors also reported in detail on the tax audit that the company underwent in 2020.
The announcement of the results of the audit revealed a total amount of taxes and penalties to be paid of TND 4.101 million, as well as a revision of VAT and corporate tax deferrals.
The company applied for a tax amnesty and the tax authorities notified the company of an ex officio tax order with a total amount of taxes and penalties to be paid of TND 4.043 million, as well as a revision of the corporate tax carryforward to TND 842 thousand and the VAT carryforward to TND 144 thousand dinars as at December 31, 2018.
The two parties, on June 30, 2022, agreed on a payment schedule for tax receivables totaling TND 2.543 million dinars at a quarterly rate of TND 181 thousand for the period from April 30, 2022 to July 31, 2025.
On September 13, 2022 the parties agreed on a second payment schedule for the tax receivables and in August 2022 the company appealed the automatic tax assessment to the Tunis Court of First Instance.
The company has made a provision for risk of TND 1.420 million based on an updated assessment by its tax advisor. The amount provided by the company was supported by tax jurisprudence and court decisions relating to tax audits of companies in the same industry. At the date of approval of the financial statements by the Board of Directors on August 22, 2002, the final impact of this situation cannot be reliably estimated.
