Asters successfully defended Globus shopping center in a dispute with the tax authority over VAT and corporate profit tax adjustments totaling to UAH 300 million (including penalties).
In the Sixth Administrative Court of Appeal, Asters lawyers disproved the arguments of the tax authority that claimed that the company had to recognize income from discounting its payables under the loan agreement and to amortize the discount, and reverse the VAT credit that was claimed by the company in connection with advertising services.
Based on the legal arguments presented by Asters team, the court of appeal concluded that the claims of tax authorities were illegitimate. The appeal court passed a resolution granting Globus appeal in its entirety and setting aside the decision of the lower court made in favor of the tax authority.
Asters team working on the project included Constantin Solyar (Partner, Head of Tax) and Iryna Gordiyuk (Associate).
Globus is a shopping center in the heart of Kyiv Independence Square. It consists of two parts (Globus 1 and Globus 2) providing 36,400 sq. m of space and accommodates more than 200 shops and restaurants. From 2008 it is owned by global private investment company London & Regional Properties, one of European largest private investment companies.
Asters is the largest law firm in Ukraine with offices in Kyiv, Washington D.C., Brussels and London. Chambers Europe 2020 recognizes 21 lawyers of Asters – the largest number of the renowned practitioners in a single Ukrainian law firm.