Stock Track | Web Travel Group Plummets 40.48% Intraday on Spanish Tax Audit News

Stock Track

02/06

Web Travel Group Ltd (WEB.AU) saw its shares plummet 40.48% during intraday trading on Friday, following the disclosure of a tax audit on its Spanish operations.

The company announced that the Special Delegation of the Balearic Islands of the Spanish Tax Agency has initiated an audit of its Spain-based unit. The audit covers direct taxes for the period from April 2021 to March 2024 and indirect taxes from January 2022 to December 2025, creating uncertainty about potential financial liabilities.

Web Travel Group stated it is cooperating with the tax agency, but investors reacted negatively to the news, driving the stock to a significant decline during the trading session.

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