Asos has become embroiled in a dispute with the German tax authorities over unpaid custom duties.
The fast fashion retailer has contested claims it owes the taxman tens of millions of pounds – insisting it owes closer to £370,000.
The row centres on customs paid on Asos parcels sent to Germany over several years, the Financial Times reported.
Row: The fast fashion retailer has contested claims it owes the taxman tens of millions of pounds – insisting it owes closer to £370,000
A spokesman for Asos said it believes the maximum bill would be ‘immaterial’ after reviewing about 95 per centof the declarations in which questions have been raised.
‘We continue to engage with the authorities and follow the relevant legal processes and are confident of a successful conclusion to the matter,’ the spokesman said.
Asos shares fell 2.1 per cent, or 5p, to 234.5p.
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Asos probed in Germany over unpaid duties