The tax authorities and prosecutors are investigating three cases involving two board members and the CEO of Play airlines. This is one of the findings in Play’s tender documents, Viðkisptablaðið reported.
Play’s prospectus was published yesterday. The airline intends to offer investors to buy shares in it at a price of ISK 18-20 per share. After that, the aim is to list on the First North market. The auction starts on Thursday 24.June, the same day as the company’s maiden flight departs to London-Stansted.
The prospectus mentions that the tax authorities have open cases concerning María Rúnarsdóttir, who is a member of the company’s board, and regarding the revenue of the CEO Birgir Jónsson. The prospectus states that María has been under investigation since last year for her tax returns in 2011 and 2012. The report does not state whether it is an income or expense year in that context, nor does it state where the investigation is located. This is an alleged missing income tax. The dates mentioned in the story are interesting in light of the fact that they seem to be on the border in terms of the usual six-year deadline for re-determination.
As for Birgir, he says that the office of the Director of Tax Investigations began an investigation into his tax returns in September 2018, but the investigation seems to have been completed. In previous years, Birgir lived in Romania, where he ran a printing plant and the controversy over whether income arose after his residence changed to Iceland again. The report mentions that the case is still open to both, despite the fact that there is a dispute over legal interpretation at the Tax Office. Birgir Jónsson believes that the case should be dismissed.
It is also mentioned that the board member Einar Örn Ólafsson mentioned in Skeljungur and is investigated by the District Prosecutor’s Office. There is a part of his case in the so-called Skeljungs case, where he, along with five others, has the status of a defendant. The investigation is not complete.