Our Tax Controversy & Litigation practice successfully represented a major global enterprise before the Supreme Administrative Court, in relation to a dispute around the step up of the acquisition value of a real estate property transferred as part of the disposal of the client’s branch in Greece.
In particular, the right to the step up, which had resulted in reduced taxable profit, was challenged by the tax authorities on the basis of book keeping compliance and associated tax considerations. The Supreme Court upheld the appellate court’s ruling which had confirmed the right to a step up based on arguments associated to the branch’s permanent establishment status under the applicable bilateral double taxation treaty.
Our core team consisted of partners Spyros Maratos and Dimitris Gialouris.