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Accounting scandal: Did Voest pay too much tax?
Day 14 after the accounting scandal at Voestalpine came to light - and this time the steel group itself is adding fuel to the fire. CEO Herbert Eibensteiner addressed the employees in a video, talking about the status of the investigation and the consequences.
The balance sheet of a German company in the Metal Forming Division had been embellished by up to 100 million euros for up to ten years! This irregularity, which the Voestalpine Group discovered in February 2024 and then hid on page 112 of the 2023/24 Annual Report, is still making waves in the public eye even 14 days after it came to light.
Now CEO Herbert Eibensteiner has poured fuel on the fire again. The reason: a video sent to the company's employees. He once again explained the facts of the case and also emphasized that, from today's perspective, no money had been drained from the company. Interestingly, Eibensteiner also suggested that Voestalpine "possibly paid too much tax".
Investigations are ongoing
This does not yet seem to be clear. The case is also still being investigated. What does seem to be clear, however, is that two employees worked together over a period of ten years. The motive? Probably because they wanted to improve the figures in order to give their own careers a boost.
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