Firm’s victory for Sonae-Sierra before Provincial Tax Court
The team from Tremonti Romagnoli Piccardi e Associati, composed of partner Giancarlo Zoppini and senior associate Anna Maria Gulino, successfully defended the Sonae-Sierra group in a tax dispute concerning deduction of quotas of depreciation on a real estate asset (a shopping centre) that was the subject of a going-concern lease agreement.
The Provincial Tax Court of Milan upheld the defence argument, acknowledging that – in the absence of a specific tax rule – this right to deduction belongs to the party who has the statutory duty to maintain the depreciable assets.
Therefore, if the parties have contractually placed this obligation on the transferor, the latter is entitled to deduction of the depreciation (even if the maintenance costs of the leased going-concerns are borne by the lessees).
The subject of the dispute was the precise interpretation of the contract that was actually stipulated between the parties. The issue was decided in favour of the taxpayer.
Comments are closed