Sørensen acquitted but Siem Offshore fined by tax authoritiesCompany News // June 16, 2015
The Kristiansand District Court has presented its ruling in a case against Siem Offshore Inc and its CEO Terje Sørensen.
Mr Sørensen was completely acquitted. The company was convicted for failing to file tax returns and filing certain accounts to the accounting registry, but acquitted on charges about failing to report on the exit of vessels from the Norwegian waters. The court found that none of the actions investigated were wilful evasions of tax.
The company was fined NKr 5 million and NKr 300,000, compared with the prosecutor's claimed fine of NKr 10 million and NKr 2.5 million.
Siem Offshore said it will study the judgment with its lawyers and assess whether the verdict will be appealed.