Onet Group shares take a battering following claims from tax authorities

Following the decision of a tax office in Krakow, which had demanded zl. 18.4 million payment from Onet, Onet Group stock values fell on Monday by a further 2.2%. The tax office decision, that Onet did not pay the due taxes for goods in services, arose out of a tax inspection for the activities of Optimus for 1998 and 1999. Onet is a company that emerged from former computer manufacturer Optimus that split between its manufacturing and internet service divisions. Immediately following the break-up, Onet shares soared 20%, but this glory was short lived for its high of zl. 38 only lasted for a few days and then started to drop. Onet is challenging the tax office decision but it still will have to money demanded by the authorities. Another reason for yesterday's slump was due to the Nasdaq stock exchange, in which information technology companies had a bad day. (Puls Biznesu, p.13), M.T.