The EU General Court annuls a Commission decision that the Belgian excess profit tax exemption constitutes state aid (Magnetrol International)

THE BELGIAN EXCESS PROFITS CASE – A STATE AID ANTICLIMAX* Lawyers across Europe holding their breath while awaiting the General Court’s ruling on the Belgian Excess Profits case were doubtlessly disappointed. On Valentine’s Day, the General Court reminded the European Commission that “tough love” is always a possibility, but the Commission’s defeat is no mortal blow. Its decision was annulled on more or less “technical” grounds, but its audacious doctrinal pillars remain unexamined and thus rest intact. Significance Why is this case important and why was it eagerly expected? The primary reason is that it is the first case from the most recent wave of fiscal state aid investigations to reach the General Court. Ever since June 11th 2014, when then Competition Commissioner Almunia opened

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Dimitrios Kyriazis, The EU General Court annuls a Commission decision that the Belgian excess profit tax exemption constitutes state aid (Magnetrol International), 14 February 2019, e-Competitions Bulletin February 2019, Art. N° 89780

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