- Successful Defense in Supreme Court: The Tax Litigation team, led by Alex Karopoulos, successfully defended a major pharmaceutical company’s right to deduct VAT on hospitality expenses related to its business activities before the Supreme Court.
- Challenging Long-Standing VAT Prohibition: Historically, the Greek VAT Code prohibited the deduction of VAT on hospitality expenses since 1987, leading to increased costs for business events like conferences due to non-deductible VAT.
- Landmark Ruling Impact: The Supreme Court’s ruling deemed the absolute prohibition on VAT deduction for hospitality expenses as a violation of the EU VAT Directive, allowing deductions for expenses objectively related to taxable business activities, potentially reducing corporate event costs.
Source Zeya
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