Tax & Legal

In a landmark judgment, the ECJ decided that attributing voting rights based on "acting in concert" without an explicit agreement, as in Section 34( 2) Sentence 1 2nd alternative of the Securities Trading Act, is incompatible with EU law.

The supreme Tax Court has held that a bank cannot write down its fixed-interest securities held as current assets below their nominal (redemption) value, not withstanding a lower market value at balance sheet date.