Author (Corporate) | European Commission: DG Communication |
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Series Title | Press Release |
Series Details | IP/16/42 (12.01.16) |
Publication Date | 12/01/2016 |
Content Type | News |
The European Commission concluded on 12 January 2016 that selective tax advantages granted by Belgium under its 'excess profit' tax scheme were illegal under the European Union's state aid rules. As such scheme benefitted at least 35 multinationals - mainly from the EU - these should return unpaid taxes to the country. The 'Excess Profit' scheme, created in Belgium in 2005, allowed multinational companies to reduce their tax base for alleged 'excess profit' on the basis of a binding tax ruling. These were typically valid for four years and could be renewed. |
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Source Link | http://europa.eu/rapid/press-release_IP-16-42_en.htm |
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Subject Categories | Internal Markets, Taxation |
Countries / Regions | Belgium, Europe |
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