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EU: Belgian tax breaks for multinational companies probed

By  |  February 3, 2015

The European Union is investigating Belgium’s tax deals with multinational corporations, dragging more companies into widening probes of sweetheart fiscal pacts handed out by national governments.

The European Commission is targeting Belgium’s so-called excess-profit rulings. Companies operating cross-border could get deductions on half of the profits covered by the Belgian pacts.

“This is a scheme for multinationals, not only American multinationals,” EU Competition Commissioner Margrethe Vestager said. “It’s not for standalone businesses and it’s not for Belgian groups.”

 

Full Content: Bloomberg

 

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