Ryanair seeking VAT refund

Ryanair is appealing the decision of the Irish Revenue Commission that the airline is not able to claim €770,000 in VAT on legal and stockbroking fees incurred in the 2006 takeover bid of Aer Lingus since it did not relate to its core economic activity of air transport. Ryanair has argued that because it provided evidence that it did not intend to hold shares in Aer Lingus as a passive investor, which would have constituted a non-economic activity, and would have carried our management service in Aer Lingus save for an EU ruling preventing it from taking over the whole