Nestor Nestor Diculescu Kingston Petersen has successfully represented Hammerer Aluminium Industries Santana in a fiscal dispute related to transfer pricing aspects before the High Court of Cassation and Justice.
Hammerer Aluminium Industries Santana is a producer of semi-finished castings from aluminum recovered from recyclable materials for various uses.
According to NNDKP, "the ruling of the High Court of Cassation and Justice confirms the decision of the Timisoara Court of Appeal, which essentially condemned tax authorities’ failure to comply with the principles for determining comparable transactions, resulting in a difference in favor of the taxpayer of about half a million euros. With respect to loans, the court ruled that both the loan issue/renegotiation date and the existence/non-existence of collateral should be taken into consideration since unsecured loans cannot be compared with secured loans."
The firm also noted that "the Timisoara Court of Appeal validated the distinction between the activity of obtaining semi-finished castings from aluminum recovered from recyclable materials and the metallurgical activity, in which castings are produced by processing the alumina obtained from bauxite, and confirmed that companies in the latter category cannot be viewed as comparable to the former."
NNDKP’s team included Partners Eva Forika, Daniela Gramaticescu, Marius Ionescu, and Daniel Sacal, Managing Associate Alexandru Lacureanu, Senior Associate Ion Loga, and Tax Director Sorin Mociofan.
