A PYMNTS Company

Spain: Ship-leasing program misaligned with state aid law, says EU

By  |  July 29, 2013

Spanish maritime companies’ practice of leasing and financing ships through tax relied partially violates EU state aid rules, the European Commission announced. The practice, established in 2002, benefitted economic interest groupings and their investors, said reports. The Commission was not notified of this scheme, which needed regulatory authorization. The beneficiaries will now be required to repay the aid to the Spanish government. Repayments will not be required of aid given in 2002 and April 2007, however, as the EU acknowledged uncertainty of the time as to whether leasing and financing through tax relief could be considered as state aid.

    Get the Full Story

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

    Subscribe 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.

    Full Content: Tax News

    We’d love to be your preferred source for news.

    Please add us to your preferred sources list so our news, data and interviews show up in your feed. Thanks!

    Add as Preferred Source

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