Belgian Software Company Loses Court Battle Over Capital Gain Claim

The Ghent software company Artwork Systems Group (AWSG) recently lost its first court battle with Belgian tax authorities over a €58.1 million capital gain claim. The Belgian company risks losing its listing on NASDAQ Europe -- and a lot more -- if the decision is confirmed by the Court of Appeal.

Old Stock Option Plans Tax-Exempt, Supreme Court Rules, Tax Notes International, 3 February 2003, p. 477
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