France’s top administrative court dismissed two appeals by the French multinational Groupe Adeo seeking recognition of tax deductions related to a liquidated Turkish subsidiary.
In one appeal, the home improvement and do-it-yourself retail group defended the deductibility of a €2.52 million ($2.9 million) provision for receivables booked in late 2013 on an advance to the Turkish subsidiary Adeo Maya.
In the other appeal, Adeo defended around €64 million in deductions for losses on receivables and a short‑term capital loss recorded in 2015 during the subsidiary’s liquidation.
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