Supreme Administrative Court announces verdict in tax evasion issue involving the “Cyprus case”
The Supreme Administrative Court (SAC) has announced its verdict on the tax evasion issue known as the Cyprus case. The SAC’s ruling means that the Tax Evasion Act has been deemed applicable to the Cyprus case and that the transaction should be taxed. The verdict that has now been announced in the Cyprus case bears similarities to Fabege’s dormant tax cases, although several key aspects are also different. We are currently analysing the verdict and the rationale underlying the verdict to assess how Fabege’s tax cases will be affected ahead of the continued process. The HFD’s verdict does