The European Commission has ordered Luxembourg to hand over documentation regarding tax practices, threatening the nation with legal action, as the authority continues an antitrust investigation into various tax policies.
The regulator is reportedly probing intellectual property tax rules, as well as policies concerning taxes for individual companies, and whether the rules align with competition law. While the investigation concerns rules throughout the EU, reports say the Commission zeroed-in on Luxembourg Monday after the nation “failed to adequately answer previous requests for information,” the Commission said.
The nation now has one month to hand over the necessary information, or the authority could refer Luxembourg to the European Court of Justice.
According to reports, the EU nation enacted new tax legislation in 2008 that allows up to 80 percent in tax breaks from profits made from licensing patents.
Full Content: Wall Street Journal
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Justice Department Moves to End NCAA Transfer Rule
May 30, 2024 by
CPI
Kenya’s Competition Authority Proposes Tougher Regulations on Big Tech
May 30, 2024 by
CPI
KKR Secures EU Antitrust Approval for $24 Billion Acquisition of Telecom Italia’s Fixed-Line Network
May 30, 2024 by
CPI
European Court Sides with Tech Giants in Italian Regulatory Dispute
May 30, 2024 by
CPI
US Steel and Nippon Steel Secure International Approvals for $14.9B Merger
May 30, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Healthcare Antitrust
May 31, 2024 by
CPI
AI and Antitrust Considerations in U.S. Health Care
May 31, 2024 by
CPI
Uncertainty in the Bottom Line: New Antitrust Scrutiny and Enforcement in Private Equity Transactions
May 31, 2024 by
CPI
Effecting M&A Diligence When Competitors Are Involved
May 31, 2024 by
CPI
AI, Pharmaceutical Sector, and EU Competition Law and Policy: What Does the Future Look Like?
May 31, 2024 by
CPI