Shipbuilder Vard Holdings has had a tax claim cancelled in Brazil.
It said authorities there had upheld the company’s appeal and cancelled the assessment.
The bill arose from the transfer pricing of goods and services delivered from the company’s Norwegian subsidiaries to Vard Niteroi in its 2010 financial year.
But the claim has been judged to be without substance.
"This decision cannot be appealed any further and is thus definite," Vard said.
The sum involved was never revealed.
No provision had been made for the tax claim as an unfavorable assessment was deemed to be highly unlikely, Vard added.
