EU regulators right to say Belgian tax rulings constitute aid scheme
BRUSSELS (Reuters) – EU competition enforcers were right to say that a series of Belgian tax rulings to multinationals was an aid scheme, Europe’s top court said on Thursday.
According to the EU Court of Justice, “The Commission proved that there was an aid program.”
Judges referred this case to the lower court, which annulled in 2019 the European Commission’s decision ordering Belgium for 700 million euro ($825.3 million). This was from over 30 multinationals that included Magnetrol of the United States and BP (NYSE:).
C-337/19 P Commission and Magnetrol International.
($1 = 0.8482 euros)
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