Court Upholds Cancellation of BAK Ambalaj Tax Assessment
An appellate court rejected the tax authority’s challenge, while a further appeal to Turkey’s Council of State remains possible.
Key takeaways
- The appellate court rejected the tax authority’s challenge to the lower court ruling.
- The tax assessment and penalty remain canceled at the appellate stage, but a further appeal is possible.
BAK Ambalaj said an appellate court upheld the cancellation of a corporate tax assessment and related tax-loss penalty. The court rejected the tax authority’s appeal against the earlier ruling.
The İzmir Regional Administrative Court’s First Tax Litigation Chamber found the lower court’s decision lawful in procedure and substance. The lower court had canceled the assessment, which was increased under repeat-offense provisions.
For shareholders, the cancellation has survived an appeal, but the dispute may continue. The tax authority can appeal to Turkey’s Council of State within 30 days of receiving the decision; the company did not state the assessment amount.
This article was produced with the help of AI technology. Source: Yahoo Finance
