In a recent ruling the Supreme Tax Court continued to develop its case law on the application of the principles of proportionality and protection of legitimate expectations in the case of estimates by the tax authorities. A full estimate that completely ignores the taxpayer's own profit and loss calculation is only permissible if the deficiencies identified are serious.
The finance ministry has clarified that its decree of February 4, 2015 on the documentation requirements to be met by resident investors in non-transparent foreign investment funds applies to funds located in other EEA countries only.
