Cartel fines not tax deductible, says High Court

Companies which are fined for cartel forming and breaking competition law cannot deduct those fines from tax, the High Court said on Friday.

The decision upholds a lower court ruling dating from 2008.
The High Court said the fine is meant to be a punishment. However, cash sums paid to offset any financial gain made by the cartel can be offset against tax, the court said.

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