Supreme Court ruling on hostile takeover defence costs

Deloitte Legal Newsletter

Supreme Court of Hungary has issued a ruling of major significance regarding the tax treatment of hostile takeover defence costs. The Supreme Court, contrary to NAV, agreed with the taxpayer's position in all respects stating that hostile takeover defence by capital market players is a reasonable business behaviour; therefore the related expenses may be deducted from the corporate income tax base, and the related VAT is also deductable. Details

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