01:34 AM EDT, 09/07/2026 (MT Newswires) -- Valuno Group (QBT.F) said Sept. 4 it plans to appeal the Swedish Tax Agency's decision upholding a 48.1 million-krona tax claim related to the transfer pricing case for the years 2019 to 2022. The tax agency found that it was the financial technology company that performed the value-creating functions and controlled the significant risks, not its subsidiary, QuickBit Ltd., in Gibraltar. As such, the profit reported in QuickBit's books should be taxed in Sweden, the agency ruled. However, the company claims that the profit should be taxed in Gibraltar as QuickBit had local staffing and that customer and supplier agreements were signed by QuickBit, which performed the significant functions and bore the significant risks in the business. Upon an appeal, the tax agency will first reconsider its decision, after which the matter will be referred to the Administrative Court. The 48.1 million-krona claim, which is due Oct. 12, comprises 23.4 million kronor in income tax, 20.7 million kronor in surcharges, and 3.9 million kronor in interest.

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