Memo: State aid: Commission welcomes landmark Court ruling on proposed 2002 Gibraltar tax reform

The European Commission welcomes the judgement of the European Court of Justice dismissing a previous General Court ruling, which had annulled a 2004 Commission decision finding that a proposed Gibraltar corporate tax reform amounted to incompatible aid in favour of offshore companies. This landmark ruling confirms that fiscal regimes engineered to give certain companies, in this case former offshore companies, an advantage, constitutes state aid to the beneficiaries which artificially and harmfully distorts competition in Europe's single market.

United Kingdom: FCO: News, 12.1.12: Statement on European Court Judgement on taxation in Gibraltar http://www.fco.gov.uk/en/news/latest-news/?view=PressS&id=715040782

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