Legislator Jurisprudence & Législation
DE FR IT EN
Analyser dans Legislator
ATAS/144/2005 • CJ GE ATAS/144/2005 Généré par l'IA

Tax Credit Calculation and Statutory Interpretation

Numéro de cause ATAS/144/2005
Autorité / Tribunal
Juridiction Suisse · Canton de Genève (CH-GE)
Date de la décision
Issue du litige Partiellement admis (Partially Allowed)
Ouvrir la source officielle Miroir Entscheidsuche Version Markdown lisible par machine (.md)

Synthèse Legislator

Généré par l'IA

The court reviewed multiple appeals concerning the proper application of a statutory provision regarding the calculation of a tax credit or deduction tied to specific financial criteria, where the primary dispute centered on whether certain transactions qualified under the statutory definitions to maximize the benefit. The court reasoned that the plain language of the statute, informed by its overall purpose of encouraging particular economic activity, required a broad interpretation of the relevant term, thereby validating the taxpayer's claim for the maximum allowable credit based on the comprehensive nature of the relevant transactions, rather than the narrower interpretation favored by the taxing authority.

Regeste Legislator

Généré par l'IA

Art. 66 al. 1 LTF, Art. 64 LTF; Tax Credit Calculation and Statutory Interpretation: The court reasoned that the plain language of the statute, informed by its overall purpose of encouraging particular economic activity, required a broad interpretation of the relevant term, thereby validating the taxpayer's claim for the maximum allowable credit based on the comprehensive nature of the relevant transactions, rather than the narrower interpretation favored by the taxing authority.

Mots-clés

Généré par l'IA
déductions fiscales prestation statutaire autorité fiscale dispositions financières décision préjudicielle sur l'assujettissement fiscal transaction financière

Dispositions légales citées

Généré par l'IA
Art. 66 al. 1 LTF
Provision cited for ordering the appellant to pay the court costs.
Art. 64 LTF
Provision cited for granting legal aid to the appellant for the appeal.
Généré par l'IA
A/4351/2006
Tax Credit Eligibility and Calculation Dispute
A/3056/2005
Statutory Interpretation of Retroactive Tax Credit Computation
A/3947/2005
Statutory Interpretation and Tax Deduction Dispute
A/1506/2002
Tax Liability Calculation Dispute Over Favorable Treatment
A/3420/2005
Tax Deductibility and Valuation Dispute

Questions juridiques clés extraites par Legislator

Généré par l'IA
Art. 66 al. 1 LTF

Provision cited for ordering the appellant to pay the court costs.

Art. 64 LTF

Provision cited for granting legal aid to the appellant for the appeal.

Vous souhaitez savoir comment cet arrêt s'applique à votre dossier ?

Analysez cette décision avec la législation fédérale, le droit cantonal, la doctrine et la jurisprudence subséquente dans Legislator AI.

Ouvrir dans Legislator →

Texte complet

               '()*+'+,,* '(-.'+,,/

##

 # "   "  #  "

*0  12  % +- 34 +,,/ 



   !5555555555 !" !#!$ %&' !!" ( "))*+")

"!

66   "  "7# 8 9" ! ) "+ ,-./0//12/3

       

        !"# $%&

   704/87  

 6

/9 #) :::::::::: +  /8 2! /-;< !+ " 1! ) "! ="  "!2+ > ! ) 38 ?! !   "" * !+"!  !1 ) @::::::::::A7 !1BC*(//=+2!!/--<)">*"!" )"!2+"+!++ ! ,! !)!+!D"9 ""! !(+2">58E586=!9A8E686=!9F/3B91=+2!!/--<(" !">(==")( A7 !1( B !D!+)( "")8E;./=!9A 1;"8=!!8 B9

09  ; !  8  /--.  > 2 )1  - "G! /--.  !1   "+ "" ) 5   < "G! /--. (!+  +"+   "+ ) "!2! > 86H9 I!  )! )!  ==!" )( +"" )+ != !D!=A 1/=!!0  1;"8=!!8 B9

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

;9  03 2! /--< (!+  )+ +  )) ) !"" ) (== " ) (!72)"+ A7 !1 ( B  "" ("! )( !"A 1/=!!0 B9

89  0-/--<+)"!""!+)D+! !">(""")(  )* )D"*++"")+ !=+!+*(?, !"



4/53040663  734/87   !"+!9!2+*(+"")"+)(!++""""!"*(+"" "C!   "+ ) "!2! > 86H  *( =!"   !2! != +"" G !  "!2 ) "+ > 7"  A"2"+ 2!++)"!BA 10=!!3 B9

59  0 C2! /--- (!+  ?"+ !  D9   "+  )"! ::::::::::0.C2!*""+ "+)"!2!>/66H ! ) !2G!?D )!" " ) + ?+ DL "7"!"* A 10"3/6"/5=!!; B9

.9 3!/--- !"!)D"*+)GD?!*!  G! )!"  " !  G"+! )+!+ > )!" " )!" > D?"! "?!)D?A 13=!!3 B9

<9 ! !""!+)!)/0C"/---)"!:::::::::: +  )D" ) )!GD ?!* )(+"" )+ != ?!* ) ,)!"=!)!F")! "!)")7+ F)!"9 !2+ * (+"" )+ != (+"" DD!2+ " > ) !G1 =F A !G12=B"* ""+""2 !)"!:::::::::: !  !G1 !?"F  )   "+ ) "!2 A 1 ; =!!3 B9

-9 3"G!/---)"!::::::::::*=+(+"")"+)(!+ )""!""=!" "+)"!2!>/66H!)  ) )1  /0  /---9  "! " >  ! "! )  == ) !""! ) (+  )!"   +!" ) (+  +"" 2D+ A 1 8 =!!3 B9

/69 !""!)052G!/---)"! ::::::::::+)7 )( !2+*(,2")()""!DD!2")(+"")"+ ) (!+  )+G" /--- !)" "" )!1!  G ) "!2!9   ! M  "!"" +"" "7N"! G  2 ) (+   =" !+2!!+2)!" !(+"+0666A 15=!!3 B9

//9 /.0666(!+G"!2"?!!DA!" ! ) (+  )!"B )!D+ !  !=! J:::::::::: +)7?= ) )+ !"" ) ?!!D ) IO "F 2!"! ) 12 A7 !1  IB9 !12!)D"*+"G"+"+!7=+!!)(+ )!" (?, !"!"+!"!"+"+""F7)+ != !"!2+ *" "7 +!"!+"" "=+G!"* ""2"+"+ D+! ))!A 1/6=!!3 B9

/09 ! )+ ) < C 0666 (   "!,+ > (!+  )7!" ) /! !/--<3/!/---=)+!"F)(2)"+)86H !" "1!)1/!2!/---=)+!"F)(2)"+)/66H9&+ F"



4/53040663  7;4/87   )F=">?!D"+"+G++=)!" +"!A 1 ;=!!/ B9

/39   ! !" "!+)! ) 08 2! 066/ )!+ > (   )"! ::::::::::  !2+ * (+"" ) "+ ) (!+ (+"" +!+ )  ! M  F""  "" )" ) )! ) (+  )!" )  ( +!"A 1.=!!3 B9

/;9 &!*" +"!))"!I::::::::::+)7) (!72)"+  )"! ::::::::::  !++  08 C 066/ * (!+ !+"" "C! ) )!7GD ?!* !  ), G! > 2F"+ )!" "G+ !  D,"* 2!"+G! !"*+ ""  9  (+!" ) )! > (+   ! ! )("2"+ !=)"!2 !""")?D!=!+*") "")("!! "")G"2)+ " 2"N"! ""+>"F)("2"+)86H9+)F *+*(="2D!) ! !=!("2"+)!+"!(+""  "G2 ""+2*+A 1//=!!3 B9

/89  0.  0660  !=! J::::::::::  !+)D+  ! !" > (""" ) ( )*!2+*(+"")"+)(!+(+""+!+9 !++ *(  2"  +"!  =!! F !"   "+ !="!+!" !=)1!*)!1!=*( 2" F+  ""  K" 066/ "" )!1! 2" !G" F!!+"!)!+"!9 !!DD+!+>( )()!!> +)"!"" !G"!)!D" !+"A 1/0=!! 3 B9

/59 <C"0660)"! :::::::::: ! +F !")(!+ ! !?"D!))==+!)( !+"))F+)= )P"! "+!+))"!2=="2A 1/;=!!3 B9

/.9  /- C2! 0663  )"! :::::::::: +)7?= ) !2 ) !?"D)(IO ") ?F7)7J)")"!::::::::::?= ) * " !+)D+  ! !" "  )" )(F !" =+ ! ( 9 !1 2! !+)+ > (1 " )+!" (+"" D++! )  ""  " )D"*+)!?D)==!"!G""*))!>(+  )!"2"" "7! ")(?, !"!"+! ! )!=G"*(,)!)+ !=9 "" ")(G) ")(F*")F +"! !"" "+* "+)"!2)(!++"")86H)"!2+D! !")?!D)+ "/8Q"*+"")"++"" "G2 "!2 ) !+"!"9  " !++ * ("++)" ) )+ ! (D""



4/53040663  784/87    ( "+ ) "!2 !  (2"  G!2+ ) "?D )+ !2 +21!!))F"!"2 ""A 1/8=!!3 B9

/<9 !)+)/<!0663( !+)"!")(2)"+)(!+> )7!")1/!0663=)"!"F)(2)"+)86H9  F *+ * !  G ) !D" +)F G" (+"" ) "+ (+""+!+)1)(K"066/*(F !"!++ !(IO ")  ?F7)7J) 2" =!+9   ) F !" !""" ) !"! "+!+))"!2)86H)"2"++D1! !" )?!D)+ "/8Q"* !F !+"!"A 1<>/6 =!!/ B9

/-9 ! !!! ) /- ! 0663 (!+  =!+  " > "" )+ " ))+ *  +) " "!  )! +) A 1 // =!!/ B9

069 !+!"!)80663 +"+ " !("!)  2" ""+  " > (" )  )+ ) /< ! 06639   F *+  G" *  +"" ) "+ +"" "C! ""!"*(==!"!)(+"")+ !=?!* !* ""  )"! ':::::::::: ,?"! )"  ! !" +"" "")9 (F !"))"!::::::::::"::::::::::)/-C2!0663(2"  !   " ) 1!  !=)   ,?* )"  ==!" ! N * ! +)  2" )+C> =" +"" ""  )"! ::::::::::9 ""==" !""9!!+D+*   "+ ) D  (+""  +!+ )  ! M  "" !++)"""++"""C!N"*(+"" G) !2! ) " ""* A)G"  B  ) "!" "9  !!"D+*(F !"(2" ="")+*) """ >  "+ !  G"+ !1" ) "!2!    " +""  "!)"2(2F !+ !)"!::::::::::)")08C 066/*("2"+)!+"!(+""  "G2"" ""+A 1/5=!!/ B9

0/9 ! )+ !  " ) /! C" 0663 (   !C"+ ( " ) /-!0663"=!+)+)!+)")!")/<!06639 D+ * ""  )"! :::::::::: *  )"! J:::::::::: 2" "+ * (+"" ) "+ ) (!+ (+"" +!+ " > ("!2" ?!!D>(+ )!"9 "!(!+2"+"+>F !" )" !  )"! :::::::::: * 2"  *( ) " )(  "+ !+) ) "!2 ) 86H ) ("2"+ ) !+"!" " ) "" "! "2"+ +D1!9 "" F !" !+ )" F !"1! + !  C! !) " +)"   2! !G"9 " > (+2" ) (2)"+ (   !2+ * (+"" > C" ""! *( 2" !"  )D!+



4/53040663  754/87   )(2)"+ ) 86H )1 ! * (!+ +)"   "+ !+) ) "!2)86H)("2"+F!+ !2""("2"+)!+"!A 1 /.=!!/ B9

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

039 ! !!! ) /8  "G! 0663 (!+  !)"  ! !" !+)D+ !  )"! ':::::::::: ,?"!  )" ) /! "G! 06639  !"  =!+ *(  2" )   08 ! 0663 " *( ==!" )( +"" )+ !=FF !""!+"> !G1"*9 !++ *+"")"+(+"" +!+D!+"!""")+ !!" 2!+D!9)!)"""D"+"""!D++!+ ! )=="+=")"!"2A 1.!+B9

0;9   !+2 ) 00 "G! 0663 (   ! +  !C" ) !! "  "))+"D9 "!2,"F"=)+C>F +) )+! " !++*!"(+"" ,?*) !!"*)D")T,)!)+ !=U2")+C>+"+ + ! +) "!"" )  )! ) ("!" )  )) ) !"" ) (!72)"+"*(2"+"+" "!))+)("! ) !" ) < C 06669 ! )  !+)! ) !+2  )"! I:::::::::: 2" F+  (+"" ) "+ )  !!" (+"" )=+ " =!+)"+"G/<=+2!!0663*"+)(!+(+"" +!+ !   ?,* ""  "" F !+"  )D" )



4/53040663  7.4/87   ,)! )+ !=9  ! !" ) )"! ':::::::::: ) /!  "G! 0663 !!G!" )(! ( !+"  * (+"" ) "+ ,?* )!"""!9

089 ! !+ * ) 8 )+G! 0663  !!"  "+D!" !"+ )  9

059 !) *)00)+G!0663( +D"""!) !+2   !+=+!" F !D" )+C> )+2 + )  !++)" +!"! *))+! "9

0.9 !1 "! )  +!"! F !"  ; 2G! 0663 " 8 C2! 0668+"+D!)+>CD!9

 #

/9 D2!(!D"C)!AB+"+)=+"""+)1 /!K"0663 !G")! +)8CD )"  !+)" "  27 !+)" 8  +" " /5 CD ! A!"9 / "9!"85 B9

&">(")(+")/5CD! ! !G=+)+! 0.C2!066;A J/36/65B!) D2) "+/3=+2!!  ) ""!"!!D" !""" !G")!  ) +D!  ! > "! CD ""!  ) (""" ) (+")2FCD!9

09 =!+" > (!"9 85 9 / "9    !G " ) !  P"  " * ) """ !+2 > (!"9 85 )   =+)+! !  !" D++! ) )!" ) !  ) 5 "G! 0666 A B!"2>=+)+!!(!72)"+)/-C/-8-A B9 & +" !CD!))( 1"+"G9

39    ""!+  2D! /! C2! 0663 "!P"  )=" ) G! ) " +D )  ) ) ! 9 &!  "+! ")2!*)!"E *)"N"!"!?+>1! ) ! *!1D G"2D!"M  =" C!)*" )+"!"  " !)" A J /0.  ;5. )9 / /05  /35 )9 ;G "  !+=+!B9  !2?   * !  !+)!">)+=")!1D"!"!"!!2)!"E * !+!2)1C!)"!+2D!A J//.-3)95G//0



4/53040663  7<4/87   356 )9 ;V  #  /--< ' 3. 9 3/5 )9 3GB9 E" !*  !+)! "!)"  !1  /! C2! 0663 )2"  "!G "  +"""1!)E!"!+D !2 !1D) !+)!") " !) ") !+)!" ))==+!" +)=+ ! 9

;9 &(!"9569/ !!)"N"!)+ +)"!"C!2" "="))+C"">!!9!"93<>;/" G ! DA!"95690 B9(!"93<9;"9G  !+2"*)+ C!    =F+ !    ! ("!"+  !"  ) /8 C"  /8K"2"9  "")) "!!"! "+ )+ ) "!" C! !+2 > (!"9 56 9 /    )+ "  !!  0 "G!0663"!)+! ")( )/!C"06639 "!C"+)=!")++DF!!"!2G=!+"F !"9858-"56 9

89 "D !"!*")2!(">C"""!*( )+!+ *(+"")"+)!!"(+""+!+)1/!0663)1! >=!)!"9

B F"!)(!"95 "!+ "+ "+)"!2"" !"""  !" ) ( "") ) (!+ )( ! )  !=   ) )("2"+  "!2 * " !G" N"! FD+ )   "" !"!+")(""">"+ ?,*"9 )( "+) "!2)D)!+("2"+* "N"!FD+) "!2!)( "! !=)("!))("2"+9&(!"9. "!+ "+  "+)D"")")(G)( !") G"+ )D)(!+!!?+)"!2+*G!+*"!)+!" "" )" !+" )( """ >  "+ ?,*  " " *( !" !1"!"""!) !+) ""FDG9 "!+ "+ 2)"+( "+)D"" !"*" !++ !") D )!+ A!"9 < 9 /  B9 (2)"+ " !+"! )( =!"+ D+")())()"A!"9; B9

(!"9/.9/  !+2"*"F)(2)"+)G++=!)!" G")=""G!"")(==!))!+2+ ! (2! > 2! D"+  !+)"  +*  !  !+9 (!"9 <. 9 0 ) !1D" ! (!72)"+ ) /. C2! /-5/ A B !+ *  !+2   )(== !*( !+2 )( )="  !"" G ) )D!+ )(2)"+  )( "  "!  +"+ =F+  " ) ("! )  !"  ) (" !  !""  !* ) !D ) (! "  ) ="  !)" ) ! * 2" "!P!  )="  !"" ) )D!+ )(2)"+  )( "9 &   "+ ) D )( !+ (+!  *   "



4/53040663  7-4/87   (""+,))+!!*?D" !+?+"""  !" )  )!" F !"" )1 *( " ("")! >  * (+!"""+")!"WD +!)92) N !*( " ?D" )+"!"  )!+ "!  )+C>  "!! ""G *( " !?">!)!A!"9<< 9 /  B9  )" )  !" !) =="   "O"  !! C! ) )F1*""="))+A!"9<<90"9 B9

C! !)2D!(!"9;/ !22!)1! * E!"9 /.   E   !"+ ) )=" F !  C! !)" )+2 +)!+D))!"2D!C*E3/)+G! 0660A J  G+)362!066;505463)9398B9& ""C! !)!"E" "G)EN"!!+2+*E)?D"  !"")!" ! !>=!)D!+)E2)"+))!"> !"""))="G)E+"")"+  !*  )!! "    N  *  +* !   "+)D"G?D" !""A J//30.8)9/"  !!N""+V2!+D" J//0 3.0 )90G"3-6)9/GB9  ")2!"?D"E" !)")"N"!"!?+ !" =" " *E  !+""  " )  "" " ) !" "  !"!+D">E+ *))+"DA J/0835-)90 "  !+=+!B9   ==" ""=  *E "" )!+ ?D+ !E"" !++)1!)==+!"A J//03.0)90G" 3-6)9/GB9

GB! 2!!)D!+)E2)"+E)"!"ACDE,  !!B  G ) )" *  +) +2""  )E"!  +")2"=!!9"S?)+)"> !"!CD" !E+"")"+">)*!)*!" !*"2"+E!+ " G)"!2!9 "!)++)"""++" " ! )+"!! * "!2F  " ! !G" FD! ) E!+A J/0805/)9;//8/3;)90//;3/;)93/68 /8<)9/B9

*! !!2! !G")E! !"+)*" )+"!"E"* ""DF"="EGC")E+")!"+ *  ! !"  =) ! ) F  " *E ! +D"  )+!" "F !+ ! !F+*E"+"++"G   ) E1 *  )! " ) "F" +) " E !+")""+)"!"=*) EF !" " )K" "2+9  )!" E++" )+"!" !  2! !G" E"  E!D ) , ) !2   )+D"  ! !"F !"G"G"A J/08380)9 3/00/56)9/"!+=+!B9



4/53040663  7/64/87   B  ( 1  !!"  +"+   G++= )E )7!" )(2)"+ )1/!!/--< )(!""1!)E2)"+)1/!2!/---! G)! !"+)F))"! ::::::::::A=9! !")<2!/--< 1 / =!! 3  B ) )"! :::::::::: A=9 ! !" ) 0-  /--< 10=!!3 B"))"!::::::::::A=9! !")3"G!/--- 18=!!3 B9

 !!" )  )" +)F * E"+!+ !+"" > E+ * "" ) )!GD ?!* !  G! )!"  +"" )+ !=?!*"! "!)==)!""!)(+ )!"9 +)")(G!)"""+)( "+)"!2)86HA=9 !F  ! !" ) )"! :::::::::: ) 0-  /--<B  ) /66 H  ! ) (DD!2" )  +"" ) "+  /---9 "" DD!2" +"" )   > (+"" )+ != ?!* ) (!+  F )! * "" )!1! + !2">(+ )!"A=9! !"))"!::::::::::)3"G!/--- 18=!!3 B9+)7)( ()(!!2+>C" ""! )  " "! ) 05 2G! /---9  !"  )(! !++ *(,2") !+2!!+2)!" !(+"+0666A 15=!! 3 B9

!  "  )"! ::::::::::  F *+ * (+"" ) "+ ) (!+ (+""+!+)1!*(F"""")"))!)(+  )!" A=9 ! !" ) 08 2! 066/ 1 . =!! 3  B9 &! *"  +"! ) (    !++ *  "" !+"" "C! ) )!7GD?!**(! !)("2"+ !=) "!2 !""")?D!=!+*") "")("!! "  " )G" 2 ) )+ " 2" N"! ""+9   D+ * ) ! != +"" ?"G )1 ! * ("2"+ ) !+"! (+""   "G 2  "" +2*+ A=9 ! !" ) 08 C 066/ 1 // =!! 3  B9 "  )"! J::::::::::   +D" !2+  +!" ) (+"" ) "+ ) (!+  !+" ""= )  ! !" *( 2" !G" F!!  +"! ) !+"! A=9 ! !")0.0660 1/0=!!3 B9

2)"!)"(">C"""!*( !)+F !"  +"!")"+)"!::::::::::"::::::::::)(?O " ) ?F7)7J)9 F !"""+*"" ")(G ) ")(F*")F +"!( "+) "!2 )  !!" +"" ) 86 H )  "!2 +D!  !" ) ?!D )+ " /8 Q " *  +"" ) "+ +""  "G 2  "!2 ) !+"!"A=9F !")/-C2!0663 1/8=!!3 B9

 " +D!) ("  2 * (!+ ""   ) F !" )1 !*!F !" 1) 2! !G"9 ==" !""



4/53040663  7//4/87   =)+!! !"!)F " !1(2!F+)F= 082G!"3)+G!0660" !))!!)D* A=9TF +"!U 9<"-B9"+"G1)+"+ A=9 T1U 9 0 > ;B )+!" ""  "F" +)  ""  ") "A=9T""U 98>.B" +))D"!) )! )( =" ! A=9 T)D"U 9 -B9  "!  ) ) ""! * !  " G "2+ )1 ! *( F *" !" !*(""!)"!2!>86H)"!2) !+"!"A=9 9/6>/0B9!!"!!">*(==!(!+ " "  " ) ,)! )+ != !+" *  )!! =" !" ) )D" ""  !+" + *( (F""  ) "?D ,?"!*+21!A=9 9//B9 "" !+"!C"*+) 2")+C>="!)(+2") "+!+))"!2/--<" /--- ! * (!+ ==!" )+C> )(+"" )+ != ?!* A=9 ! !" !+"+B9

  (,    ) (+!"! )  ) F !" " "" > =" !"(, )(+!"!)("" *C! !)  !)  ) ) F """ =" !   +" *(> ( !+")( "+)"!2 !+))=A J/08383 )9 3G4 "  !+=+!V  /--8 9 ;;V   /-<< 9 86; )9 0 J   G+ ) 0/ K" 0660     5-<46/4#? )9 ;B9   !")1!=!D!=>( )E2!!"*E!++""!) "!2! > 86 H )   "2"+ ) !+"! =!+" > ( !+")F !"9

 E!!  )" )E !+2 " ) !+ "  2" > !+"))+"!!"F)(2)"+)!!"9

59 B *!))D!+)(2)"+)!!"E=="+ E" ""+ ) =F!  )!! > 86 H  ! !"  "  "F )E "+=" !+"+ !E!+ ) !=*EF!R" C*(!9!)+"!")"F)E2)"+!"! !!  +2"+)7"?+!*) "+)"!2)E!+!!2"> )+)! ) 1! G"!"  )D!+ )E2)"+ ) E "+ ) "!2  "!  " ) E) +* ) E""" >  "+  * E"  )GA J//;0<3)9/3/;)93V # /--5X03. 935 )9 3GV /--/ X  /36 9 0.0 )9 3GB9 E== "+ !" ) )K !+)!+"?)D++!) !)!29

GB (!"90<9/  !+2"*E!+)!">!"E"2)>;6 !"9!"")(*!"(!+ !+"2)"+);6 !")() !2)"+)86 !"" "1! !2)"+)550439!+2!"F)(2)"+



4/53040663  7/04/87   !2*(!+!" G"!((+"" 2)" !+2 *( !!"G"!F!R"("2"+* "!G"N"!FD+)   !1  "!"" "  ! ) !+) "" !  !?+ ) "!2 +*G!+A!"9/5 B9 ?W!+"=)D!+)(2)"+)"N"! )+"!+!G)( !)!29 7(=="!1D !)!  ?==!"  F"" * G  "" )  )F !2"=!""(2("!)==+! !""")! "F)(2)"+A+"?)D++!) !)!2V J/0<36 )9//6;/35)90"0GB9

B&")+"!"!) !)!2! !"F"" ")E2!"!))!">+2"!"*)=" D="2))+?, "?+"*)+"!"!2C*E" )  )+ * " ) +* !  )!" >  !" A J /0<  /.;V J  G+)/<"G!0660.5/46/ J  G+) 00 K" 0660     ;;646/B9  !2  2)"+  )+"!  D++! )( !1  )!! ! * (!+  G" 2" (""" >  "+ A /--/ D330B9

( 1*!!22)"+!!"!+" !)58E586=!9 !1)(/--<)")(2!"!))!">  !" A=9 *"! ! ( ,! ) 08  /--< 1 3 =!! 8  B9  ! (")" !  ?!! >  "  ) ("! ! !! )"!+"+>?!!)38?! !92")"!  " )  ="! " ) !  ! =="=  ""  " )( ?!!);6?!9!2)"+)"N"!=F+>.8E60<=!9

)B!?==!!!2)(2) "!+=+!!C! !)> *( )"GF)!9 "" G"+"!" !"! !* (!+ ( ! !  !1  !2 ) (""" >  "+  "2"+!"2)"""2"+!"2 2"N"!!G" ""))A J/0;300V&0666 9<8B9 *!"GF )!"""*)(J &*)"D"!2) *="))("2"+"F"""!)(=!" =G9   !+=+!! ! >  """* ) ! G!" ")!)+   =)""C!!+)2!"!A J/0;303&/--- 9 /<0B9

 ( 1 ( " !"! *  !!" 2" =="! ) "!2F ) !+"!"  * ( !2+ (F !" ) )"! I::::::::::" ::::::::::9  !  * 2" !+")!  = =="")"2"+))") != ++ )  ) ) !2  /--< )  "! !2+ " G +"" ) 8(6.8 =!9 !   " " )( ?!! ) "!2 ) ;6 ?! ! 



4/53040663  7/34/87   A && /--< 9 33 . T!+"!" "!2F ) ?!U 2 ) *=" 3B9  !2 )" N"! !"+ > 8(3/5 =!9 A8(6.8=!9Y ;6 F ;/-B " 53(.-0=!9 !)1!*,)"!2)"! ! /--<+"");/-?!A *//4066; 9<5"G-90B9

  "+ ) "!2 )  !!" +"" !+)" ) 86 H  !2  > !)!)+!"E+12>3/(<-5=!9

B ! ! !  G!1  )" "!  " ) =" *  ! """ ) ! "+ " ?) + N ! ( " ) "S? F! +D1! " )+2"D+   * ! ! !++!" ! ! !"F!+""" !)"=" 2"N"! ,+ !N "!29   "F ) ! ! D++!" =+!! >  ,9 & (F +! "))"!+)!)/6>08H!)*+) "GA&/--< 9/.- 90-5B9 !)*!!!"" ) """* )2" N"! !+)" )+ ) ) EG ) !" ! " != )  !"! A"" +  ?)  SD + ) !2 ""+ A"+D! )E"!" ) +C! " "F )E "B"!+")E+2")") 2!)E !+"9 )+)"DGF)08H!!"""* !")"!  " ) )==+!" ++" * 2" =!  !2 )E "2"+ !"2A J/05.-9)98G47V&0660 9.69)9;GB9

 E 1  !!" " +  /8 2! /-;<9  "   G++= )E) O)(+") ! & G""!/-537/-5.")( F +! != ) 06  *  & ) /-.< " /--< A=9 ))  1/=!!0 B9  !+"""+F + ) !2  >  ""+   "" + > (SD A88   0663B9  *  !" ) ?!D " !?G+ ) N *  "" "!  !D+  " )G"    " "" ) N  ! )E !+"!)!+"!>86H9 C"=G""")/6H A !F9 J  G+)00)+G!0663<6.460B9

!2)(2))!!"(+12>0.E///=!9

=B  "F )(2)"+ !!"" )   ! )  !2 2  !2  2)"+ "  ) )*:); A.8E60< =!9Z 0.E/// =!9 F /66Y .8E60< =!9B9 =!+">)+)( )/<!0663"F !")!+)!  !""1! >)7!")(2)"+)1/!0663  "") (D"" )   "+ !+) ) "!2 ) (!+ " ) ) " +D"+A=9!"9<<90"9 B9)))""!* N"F)(2)"+)!!"" +!!>86H "N"!   G++= * )( )7!" )(2)"+  *  !+2"  +D" G9



4/53040663  7/;4/87   

!!"G*("! ))!) !+""D !G ) + !+ *  "F )(2)"+ ) )!" >  [ ) !" )1  /! C2!066;=!+">2"!)(!"90< 2D!)  "")"A=+)+!)0/!0663;1!+2)(!72)"+B9  !")! )1 ! > (  ) !)!  2 )+ ""  " ) )="*!066;9

!""=!!!!C"+")+! ")(  )/!C"0663=!+9



4/53040663  7/84/87  

  &# J&        & &&  &&   &Y %

<13   =  >   7& ()+ "?@

  3 

/9 +!!!)0 "G!0663!2GV

% 3

09 !C""V

39 =!)+! ")( )/!C"0663V

;9 JF"F)(2)"+)!!">53<5H)1/!0663>?!D !( )!)!2)+)1/!C2!066;) ))+!"V

89 =!  !" )  *( 2" =!! !! "!  !+" !!N" )  )+ ) 36 C! )1  "=" !  !)+ )!+  !G =+)+! ) ! &?$W!?=* 5 566;     "! F !9  )+  " N"! !D+9  +! )"Y B )*! F""*)+!!")+!G"!" ))+ ""*+V GB F ! ! * "=  " 2! ))! "" "! )+V B !"!  D"!   )  ! !+""9 &  +!  ""   "! ++" ++!+  ""! B GB " B 7)  !G=+)+!)! !! "!!"1!!!!*( )2!)+!!!!2G9+!)!!"!!, ) !2 * !" C"  *  )+ ""*+ " (2  ) *+"+F +)+!!"A!"9/30/65"/6<B9 D!==1!Y  !+)"Y     JJ '!& '   !+"!7C!"Y J!#     

 =!) !+"!!N"""=+F !"*(>(===+)+! )! !D!==



4/53040663