The EU Court of Justice AG Kokott thinks the Commission is right to consider that the Belgian practice of making downward adjustments to the profits of undertakings forming part of multinational groups constitutes an aid scheme (Magnetrol International)

Tax rulings: According to Advocate General Kokott, the Commission was right to consider that the Belgian practice of making downward adjustments to profits of undertakings forming part of multinational groups constituted an aid scheme* The judgment of the General Court of the European Union to the contrary should be set aside and the General Court should rule again on the actions brought by Belgium and Magnetrol International From 2004 to 2014, the Belgian tax authorities made downward adjustments, by way of tax rulings,to the taxable profits of a total of 55 Belgian resident undertakings forming part of multinational groups; this is also referred to as an excess profit exemption. The adjustments were made on the basis of a provision of the Belgian Income Tax Code pursuant to which, in