1 unchanged sentence
Please refer to “Item 3.
−Removed: Legal Proceedings” in our Annual Report on Form 10-K for the year ended December 31, 2020 (our “2020 Form 10-K”) for information regarding material pending legal proceedings.
−Removed: Except as set forth below, there have been no new material legal proceedings and no material developments in the legal proceedings previously disclosed.
−Removed: As previously disclosed in the 2020 Form 10-K, in June 2019, Laureate was notified by the Spanish Taxing Authorities (“STA”) that a tax audit was opened for our Spanish subsidiary with respect to non-resident income tax for the second semester of fiscal year 2015.
−Removed: On March 30, 2021, in response to our allegations, the STA issued a final assessment to Laureate Netherlands Holding B.V.
−Removed: (f/k/a Iniciativas Culturales de España, S.L.) in which the Chief Tax Auditor challenged the preliminary assessment and found that the STA could not claim the withholding tax obligation in this case.
−Removed: At this time, we consider the matter resolved.
+Added: Legal Proceedings” in our Annual Report on Form 10-K for the year ended December 31, 2020 (our “2020 Form 10-K”) and Part II, “Item 1.
+Added: Legal Proceedings” in our Quarterly Report on Form 10-Q for the quarter ended March 31, 2021 (our “Q1 2021 Form 10-Q”) for information regarding material pending legal proceedings.
+Added: Except as set forth therein and below, there have been no new material legal proceedings and no material developments in the legal proceedings previously disclosed.
+Added: On July 22, 2021, the Spanish National Court issued a decision on the Company’s appeal regarding the Spanish Taxing Authority’s (STA) audits of Iniciativas Culturales de España, S.L.
+Added: (ICE), our former Spanish holding company, for the fiscal years 2006-2007 and 2008-2010.
+Added: Based on our understanding of the decision, the matter is not yet resolved in favor of either the Company or the STA.
+Added: The National Court decision can be appealed by the Company or the STA.
+Added: The Company is evaluating its options, including an appeal to the Spanish Supreme Court, and awaiting further actions by the STA in reaction to the court decision.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.