The EU Commission opens a State aid investigation in relation to the UK’s Controlled Foreign Company rules

On 26 October 2017 the European Commission announced that it had opened a State aid investigation in relation to the UK's Controlled Foreign Company (CFC) rules and specifically, the group financing exemption under the rules. Should the Commission conclude that the group financing exemption represents incompatible State aid, it will order recovery from all companies that have benefitted. In light of current timing, the progression and ultimate determination of the Commission's investigation is unlikely to be impacted by Brexit. The Commission will in due course publish its decision opening the investigation (opening decision), setting out its detailed reasoning as to why it considers that the group financing exemption may represent State aid. Interested parties, including those

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Authors

  • Herbert Smith Freehills (London)
  • Herbert Smith Freehills (London)
  • Herbert Smith Freehills (Brussels)
  • Herbert Smith Freehills (London)

Quotation

Howard Murray, Isaac Zailer, Lode Van Den Hende, Morris Schonberg, The EU Commission opens a State aid investigation in relation to the UK’s Controlled Foreign Company rules, 26 October 2017, e-Competitions October 2017, Art. N° 93667

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