Crédit Agricole: favourable court ruling
(CercleFinance.com) - Crédit Agricole has announced a favourable ruling by the Administrative Court of Appeal of Versailles in a dispute with the tax authorities which, in 2012, challenged the deductibility of an expense incurred on the sale of the Greek bank Emporiki.
The Court recognises the deductible nature of this charge of 2.3 billion euros and has ordered the repayment to Crédit Agricole SA of the overpayment of corporate tax paid regarding the fiscal year 2012.
This decision therefore fully satisfies the arguments presented by the bank, which will take into account the financial consequences of this decision once all remedies have been exhausted.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The Court recognises the deductible nature of this charge of 2.3 billion euros and has ordered the repayment to Crédit Agricole SA of the overpayment of corporate tax paid regarding the fiscal year 2012.
This decision therefore fully satisfies the arguments presented by the bank, which will take into account the financial consequences of this decision once all remedies have been exhausted.
Copyright (c) 2018 CercleFinance.com. All rights reserved.