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Our tax practice, comprised of highly experienced tax lawyers, offers the full range of tax law services. The analytical ability of our tax lawyers ensures that they are able to provide our clients with high quality, innovative and business-oriented services, as well as with practical and pro-active solutions, in the continuously changing area of tax legislation and practice.

While securing day-to-day compliance with local regulations and requirements, the primary goal of KPP Law is to assist our corporate clients in maximizing tax efficiency, both at a transactional and operational level, in respect of business activities in Greece and abroad.

Our tax team has strong experience in advising clients on the full spectrum of direct and indirect tax law issues arising from commercial and corporate transactions, including M&A (sale of business, asset and share deals, mergers, intra-group re-organizations, joint ventures etc.), financing (equity or debt), acquisition and commercial exploitation of real estate property, employees incentive plans, etc., as well as other specific tax issues, such as thin capitalization, transfer pricing etc.

We also advise Greek and foreign high net-worth individuals in properly discharging their tax liabilities in Greece, as well as in domestic and foreign property, inheritance issues and other tax law issues.

The above advisory part of our tax practice is paired with a strongly experienced tax litigation practice, since we represent and support our clients in tax audit procedures before the Tax Authorities, the Directorate for Settlement of Disputes (D.E.D.) of Independent Authority for Public Revenue (AADE) and Administrative (tax) Courts.

Highlights:

• We successfully represented a major oil company before the Court of Appeal of Athens on a 7,5 m. tax dispute, claiming the incompatibility of laws extending the statute of limitations with Greek Constitution and EU Law. The Court accepted our appeal and the said decision was the forerunner of landmark decision of the Supreme Court (Council of State (CoS) 1738/2017, which confirmed the legal position that,the statutory limitation period for the State to issue tax assessment notes may not exceed a 5-year period and may, exceptionally, be extended under certain circumstances in light of strict constitutional limitations.

• We successfully represented a major company operating in betting and gaming sector before the Court of Appeal and Council of State; the Court overturned the position previously held  by case law that an amending tax return is valid only if submitted until the issuance of a tax audit mandate and ruled that amendments of tax returns may validly take place until the notification of the mandate to the taxpayer.

• We successfully represented a major cosmetics company before the Court of Appeal, claiming a full retroactive application of more favorable surcharges imposed on main tax under L.3943/2011 (monthly surcharge 2% with a ceiling up to 120%), instead of the surcharges imposed till then under L.2523/97 (monthly surcharge 2% with a ceiling up to 300%). The Court accepted our arguments, judged that the most favorable regime shall be applied retroactively irrespective of whether the alleged infringement under examination, was carried out prior to the publication of law 3943/2011in all respects (i.e. , and ruled that  a limited retroactivity (as provided by the relevant statutory provisions) breaches EU principles and EUCJ case law.

• We successfully represented a leading insurance company on a 12 m. tax dispute, relating to refund of unduly paid  withholding prepaid income tax, on specially taxed income arising from Treasury Bills, Greek Government Bonds, non listed shares etc..

• We successfully represented a high net-worth individual before the Court of Appeal of Athens, claiming for  retroactive application of more favorable penalties imposed on main tax under the new Code of Tax Procedure (10-50% of main tax), instead of the surcharges imposed under L.2523/97 (monthly surcharge 2% with a ceiling up to 120%). The Court accepted the arguments based on EUCJ case law and the rationale of this decision has already been endorsed by the Greek State in recent tax legislative work.

• We successfully represented a major tobacco company before the Administrative Court of Komotini in suspending the collection of a 44m customs duties, fines, surcharges etc enforced by the State.

 

We advise existing and prospective owners (individuals and legal entities) of real estate property located in Greece and abroad within the framework of transactions that include:

• Sale and purchase of residential and commercial properties

• Commercial lease agreements

• Sale and lease-back agreements

• Malls financing

• Real estate joint ventures

• Construction agreements and licensing

• Real estate investment companies (REICs) 

 

We are active in the energy sector, which is one of the most vivid markets and consequently rapidly developing areas of law in Greece in the last few years. This is both due to the opening up of the energy market, as well as the emergence of the market of renewable sources of energy (RES). We have gained experience in the RES market including:

• Support to companies throughout the process of licensing of photovoltaic parks and representation of companies before the competent authorities, i.e.  the Regulatory Authority for Energy, the Hellenic Transmission System Operator S.A. and the various Ministries involved in the licensing of the projects.

• Advice and representation of companies in the process of financing of the projects.

• Legal support in the context of the development of those projects, by negotiating the relevant contracts with the suppliers and developers.

 

In the context of our work with business clients and with the continuing emergence of intellectual property rights cases,  we regularly provide our clients with advice on registering, protecting, as well as defending their IP rights before the competent public authorities and courts.

In particular, our law offices have recently been involved in such cases at national and EU level, including agreements and/or disputes arising from:

• The protection of trademark (in the markets of consumer goods and alcohol)
• Patents (in electronic equipment)
• Industrial design (in the market of footwear and clothing)
• Copyright (protection of composers’ rights)

 

We support enterprises and groups of companies providing solutions to their day-to-day activities as well as their significant commercial transactions. In this regard, we serve corporate clients from a wide range of industries (such as retail, insurance, energy, banking, telecommunications, Information Technology, real estate etc.)  with the following, amongst others, corporate legal services:

• Advice as to the proper form, as well as incorporation, of legal entities, through which our clients conduct their business in Greece

• Drafting, as well as negotiating, the general commercial contracts, as well as more tailor-made agreements, on the basis of which our clients are supplied with or supply goods and/or services

• Drafting and negotiating all agreements which regulate our clients’ relationships with their company’s private stakeholders (shareholders, creditors, employees etc.)

• Corporate advisory and administration services, within the framework of any business transaction, which requires a resolution from a corporate body, such as General Assembly approvals and/or Board of Directors Decision

• Full scope legal due diligence services within the framework of Mergers & Acquisitions or corporate reorganization transactions

• Advising on corporate insolvency issues, both on behalf of the debtor company under distress or its creditors

 

KPP Law is acting as legal counsel to both credit institutions and corporations in relation to the restructuring of distressed companies’ corporate debt. 

We provide effective solutions to complex restructuring matters utilizing Article 106 pre-bankruptcy processes as well as out of court debt reorganization schemes. 

Our practice involves advising clients on insolvency proceedings, implementation of loan and security agreements, financing transactions, enforcement of pre-bankruptcy processes, judicial ratification of restructuring agreements as well as other court proceedings.

Το that end, we combine tax, corporate, real estate and employment practice in a bid to provide our clients with the confidence that our advisory services meet their objectives and business needs. 

Recent highlights include:

• Advising and representing all four Greek systemic banks in relation to the restructuring of the €120mn corporate debt of a Greek group of companies importing HYUNDAI and KIA vehicles in Greece through the pre-bankruptcy process of article 106(b) of the Greek bankruptcy code and the participation of a new investor acquiring a majority stake.

• Advising and representing all four Greek systemic banks in relation to the restructuring of the €310mn corporate debt of a Greek group of companies  active in diverse business fields, such as import and dealership, as well as rental of vehicles, construction, IT, etc.

• Advising and representing all four Greek systemic banks in relation to the restructuring of the €75mn corporate debt of a Greek group of companies trading medical equipment.

• Advising and representing all four Greek systemic banks in relation to the restructuring of the €70mn corporate debt of a Greek and foreign group of companies manufacturing and trading plastic injection-moulded products.

• Advising and representing all four Greek systemic banks in relation to the restructuring of the €65mn corporate debt of a Greek wine producer.

• Our team has represented corporate clients in the context of applications for restructuring and/or bankruptcy. 

KPP Law provides high quality services to the increasing number of companies that are affected by the enforcement of national as well as international competition law. We have significant work experience in Greek, UK and EU competition law, having worked on competition cases in support of corporate clients as well representing the enforcement authorities (the Hellenic Competition Commission and the UK Office of Fair Trading) in a wide variety of markets and sectors, including motor vehicles, media, oil, consumer goods, pharmaceuticals, detergents, books, movie distribution, and the insurance sector.

The multi-national and multi-lingual nature of our team allows us to understand the national policy concerns that shape global competition policy and to maintain strong relationships with enforcement agencies.  In parallel, we actively participate in the relevant academic debate with our lawyers’ internationally acknowledged research.

Our competition law practice supports companies in a full range of competition issues including:

• Notification of mergers and acquisitions before the competent competition authorities. We work with clients to develop their merger strategy, combining commercial, legal and often political considerations to maximise the chance of a successful outcome 

• Advice and representation of companies involved in cartel cases, including applications for leniency, corporate statements and dawn raids. As fines increase, this can have a major impact on a company’s total financial exposure, both in terms of regulatory fines and damages from civil claims

• Advising on the procedural and substantive issues arising from abuse of dominance investigations both on behalf of dominant companies as well as complainants. Regulators in both Greece and Europe are committed to vigorous enforcement against such practices

• Advising clients on state aid, in particular in relation to the repayment of unlawful state aid and managing recovery proceedings

• Public procurement and utilities regulation

• Advice to and representation of companies in vertical restraints cases, such as licensing, distribution and franchise agreements.

 

We assist business clients in complying with data privacy Regulation on both a domestic and EU level (GDPR) including representing clients before Data Protection authorities and competent courts. 

We have recently worked for a well-known IT company on GDPR compliance. 

We also advise on protecting IP rights such as registering, protecting, as well as defending their IP rights before the competent public authorities and courts.

In particular, we have recently been involved in such cases at national and EU level, including agreements and/or disputes arising from:

• Protection of trademark (in the markets of consumer goods and alcohol)

• Patents (in electronic equipment)

• Industrial design (in the market of footwear and clothing)

• Copyright (protection of composers’ rights)

 

We have advised Greek and foreign financial institutions on all types of financing transactions (common bonds, secured bonds, convertible, covered bond loans direct or sub - participations to international facility agreements etc). 

We act as legal counsels of all Greek systemic banks in various debt restructuring projects of large NPEs through in or out-of-court procedures (for more information see Insolvency and Restructuring).  

We also advise Greek credit institutions and their foreign subsidiaries in their capacity as borrowers while receiving funding or protection by, as well as granting security to, foreign banks and international organisations within the framework of facility agreements, trade finance programs, EMTN (Euro Medium Term Note) programmes, securitisations, derivative transactions etc.

Our litigation practice manages a crucial portfolio of complex legal cases pending before the civil courts.

Recent highlights include:

• Acting for a major Greek credit institution before the Court of Appeal in connection with the compatibility of certain banking products (loans in CHF) with Greek and EU Consumer Protection Regulations.

• We are acting as the legal advisors of a major Greek bank, in the course of negotiating the facility documentation to be entered into with an international financial institution for the provision by the latter of a €100mn facility.

• We are acting as the legal advisors of a major Greek bank, in the course of negotiating the documentation to be entered into with three major international financial institutions for the participation, either as an issuing bank and/or as a confirming bank, of the former to the trade finance programs of the latter.

• We are acting as the legal advisors of a Romanian Credit Institution, wholly owned by a major Greek bank, in the course of negotiating the facility documentation to be entered into with An international financial institution for the provision by the latter of a €40mn facility.

• Acting for two Greek systemic banks (under their capacity as mandated lead arrangers) and a syndication of Greek credit institutions in connection with two syndicated bond loans of a total value of €75m (approx.) issued by two large Greek corporates, members of the same Group, active in the business sectors of plastic products manufacturing and tourism (hotels). 

• We have represented a systemic bank in various cases before Greek Courts, relating to claims (by clients) for misselling of investment products (among others, mutual bonds, Government bonds and corporate bonds, including perpetual bonds).

• We have represented two Greek cooperative banks, in cases of claims against the Greek State on the basis guarantees that the latter has granted to certain companies (total amount of claims: approx. 30 m)

• We have handled cases of Banks’ claims against corporate clients (non-performing loans) of approx. 200 m

 

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