Marval represents Banco Macro in a strategic case on inflationary and confiscatory adjustments

Marval O’Farrell Mairal's Tax team, led by partners Maria Ines Brandt and Sergio D. Vergara together with associates Julieta Demartino and Stella Maris Crespin, represented Banco Macro (and previously its predecessor, Banco Itau) in a court action in which all instances confirmed that the tax determined without applying certain adjustments for inflation was confiscatory and, therefore, groundless.
The court recognized that, since it had been clearly demonstrated that the tax absorbed a substantial part of the adjusted income, its application without correction for inflation was unconstitutional.
This new precedent adds to a series of cases in which Marval has advised and represented its clients in high impact tax litigation, which have had—and continue having—strategic relevance within the Argentine tax system, especially in the economic context of recent years.