Zamfirescu Racoti Vasile & Partners has successfully represented Intermed Consulting & Management before the High Court of Cassation and Justice of Romania in a case involving industrial park real estate tax exemption.
According to ZRVP, “the tax facilities from which the companies residing in the industrial parks had been benefiting since 2004, and [the attendant] exemption from payment of taxes on buildings and land were not maintained by the authorities as of 2014. Furthermore, certain tax bodies issued retroactive tax decisions, with interests and penalties, levying amounts of millions of euros on each investor from the industrial areas. Intermed Consulting & Management S.R.L., a resident of Sema Park, received from the District 6 Local Taxes and Duties Directorate confirmations of exemption from the payment of tax in the period 2009-2014. Furthermore, DITL District 6 even ordered its reimbursement when paid voluntarily. The element of surprise occurred in 2014 when the same authority established as incumbent on the same entity, to which for years it had been communicating that it was exempted from payment, the obligation to pay tax on the real estate from the industrial parks of approximately 17 million lei and penalties amounting to 11 million lei for the period 2010-2014.”
The Zamfirescu Racoti Vasile & Partners team included Managing Partner Cosmin Vasile, Managing Associate Ovidiu Serban, and Senior Associate Simona Oprea.