Borenius represented CapMan Real Estate in tax litigation regarding carried interest

We represented CapMan Real Estate in tax litigation regarding carried interest where the Finnish Tax Administration claimed that dividends paid to team members should be taxed as employment income. The taxpayers won the case, both at the board of appeal and in Helsinki Administrative Court in December 2019. The ruling by the Administrative Court is final. This marks the third ruling within the recent years where carried interest has been considered as investment income.