LAST UPDATE: 18:17
By Panagiotis Stathis
Coca-Cola Holdings BV lost the court battle in the Council of State, which is required to pay an amount of approximately 2.6 million euros for tax disputes, additional taxes and fines of previous years (2008, 2009, etc.), due to inaccurate statements.
The head of the Interregional Audit Center challenged the way Coca-Cola’s foreign-origin (Cyprus) dividends were taxed and issued income tax returns, attributing principal income tax differences, additional tax and fines due to inaccurate tax returns. The manner of taxation of foreign dividends arising from the relevant two-day tax contract with a reduced rate was disputed and in some cases they even requested the return of amounts as unduly paid.
The amounts charged to Coca-Cola are around € 2.6 million, without being able to calculate accurately, as additional taxes (200%), fines (30%), etc. have been imposed. on the difference of the principal tax charged to that company by the tax authorities.
Coca-Cola’s previous defeats in the Administrative Court of First Instance and the Athens Court of Appeals had preceded and then it appealed to the Court of Appeals against the appeals decisions. However, the 2nd Department of the Supreme Court of Cassation with 5 decisions rejected the company’s appeals as unfounded and irrelevant.
Source: Capital
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