Credit Agricole seen challenging Emporiki tax verdict - paper
PARIS May 22 (Reuters) - Credit Agricole is expected to file a lawsuit in the coming days challenging a decision by French tax authorities to bar a tax deduction it sought on the sale of its Greek Emporiki unit, newspaper L'Opinion reported.
Chief Executive Jean-Paul Chifflet has given the green light for the country's No. 3 bank to file a complaint with France's highest administrative court, the paper said, without citing sources.
Credit Agricole officials declined to comment on the report.
The tax decision unexpectedly cost Credit Agricole 838 million euros ($1.08 billion), pushing fourth-quarter writedowns at the bank to 4.53 billion.
At issue is whether a change in a tax law passed in August 2012 could be applied retroactively to a recapitalisation of Emporiki in July.
($1 = 0.7769 euros) (Reporting by Christian Plumb; Editing by Mark Potter)
- U.S.'s Kerry expresses regret to India over diplomat case |
- Mega Millions winners in Georgia, California to split $648 million |
- China confirms near miss with U.S. ship in South China Sea
- Washington, DC city council raises minimum wage to $11.50/hr in 2016
- Fed cuts bond buying in first step away from historic stimulus |