Nokia 2003 Annual Report Download - page 98

person, the donor, the beneficiary of the deceased person or the recipient of the gift is resident in
Finland.
Non-Residents of the United States
Beneficial owners of ADSs that are not US Holders will not be subject to US federal income tax on
dividends received with respect to ADSs unless this dividend income is effectively connected with
the conduct of a trade or business within the United States. Similarly, non-US Holders generally
will not be subject to US federal income tax on the gain realized on the sale or disposition of ADSs,
unless (a) the gain is effectively connected with the conduct of a trade or business in the United
States or (b) in the case of an individual, that individual is present in the United States for
183 days or more in the taxable year of the disposition and other conditions are met.
US Information Reporting and Backup Withholding
Dividend payments with respect to shares or ADSs and proceeds from the sale or other disposition
of ADSs may be subject to information reporting to the Internal Revenue Service and possible US
backup withholding at the current rate of 28%. Backup withholding will not apply to you,
however, if you furnish a correct taxpayer identification number or certificate of foreign status
and make any other required certification or if you are otherwise exempt from backup
withholding. Amounts withheld as backup withholding may be credited against your US federal
income tax liability, and you may obtain a refund of any excess amounts withheld under the
backup withholding rules by filing the appropriate claim for refund with the Internal Revenue
Service and furnishing any required information.
You should consult your own tax advisor regarding the application of the information reporting
and backup withholding rules, including the final regulations.
10.F Dividends and Paying Agents
Not applicable.
10.G Statement by Experts
Not applicable.
10.H Documents on Display
The documents referred to in this report can be read at the Securities and Exchange Commission’s
public reference facilities at Room 1024, 450 Fifth Street, N.W., Washington, D.C. 20549.
10.I Subsidiary Information
Not applicable.
ITEM 11. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
Nokia’s overall risk management concept is based on visibility of the key risks preventing Nokia
from reaching its business objectives. This covers all risk areas: strategic, operational, financial and
hazard risks. Risk management at Nokia is a systematic and pro-active way to analyze, review
and manage all opportunities, threats and risks related to Nokia´s objectives rather than to solely
eliminate risks.
The principles documented in Nokia´s Risk Policy and accepted by the Audit Committee of the
Board of Directors require risk management and its elements to be integrated into business
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