A PYMNTS Company

EU: Vestager to finish tax probe by mid-2015

By  |  December 11, 2014

Four ongoing probes regarding EU Member States’ tax relationships with foreign corporations are set to be concluded in the first have of next year, say reports.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    According to European Commissioner Margrethe Vestager, authorities are looking to finalize the current cases before opening any new ones regarding the matter.

    Tax relationships with Apple, Starbucks, Amazon and Fiat – involving Luxembourg, the Netherlands and Ireland – are being investigated on claims tax breaks offered to the companies could constitute illegal and unfair state aid. Vestager says she hopes to close those cases in the second quarter of 2015.

    While only four cases have been launched, experts predict more to come since the revelations of the so-called LuxLeaks documents emerged. Those documents suggest billions of dollars in tax breaks were offered to several companies by Luxembourg alone.

    The reports have caused a firestorm of controversy against current European Commission President Jean Claude Juncker, who was Prime Minister of Luxembourg during the time of the tax agreements in question.

    Full content: Reuters

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.