The French Supreme Court (Conseil d'Etat) issued a decision on 8 December 2023 regarding the deductibility of punitive damages pronounced by a U.S. Court for breach of legal obligations In its decision, the Supreme Court struck down an earlier ruling of the Court of Appeals and held that punitive damages pronounced by a U.S. Court for breach of legal obligations may not be deducted for French tax purposes. French law disallows the deduction of any "pecuniary penalties" imposed on the taxpaye…