BGP Litigation senior associate Denis Savin speaks with Interfax about the appellate court ruling in favor of a company involved in a dispute over reimbursement of VAT under a real estate transaction, the value of which was challenged by the FTS

"The court of appeal took a formalistic approach when considering the case and didn't address the question of whether an unjustified tax benefit was obtained. From court practice it follows that the tax authorities can use market prices as the basis for determining the value of an unjustified tax benefit. In all likelihood the decision will be reviewed in cassation court", said Denis Savin, a senior associate with BGP Litigation.