CASE COMMENTS: STATE AID - TAX EXEMPTION - TAX RESCRIPT - CANCELLATION

Tax ruling: The Court of Justice of the European Union considers that the European Commission correctly found the existence of an aid scheme in the context of the tax exemptions granted by Belgium to multinational companies and sets aside the judgment of the General Court of the European Union (Magnetrol International)

*This article is an automatic translation of the original article, provided here for your convenience. Read the original article. This is a continuation of one of the "tax ruling" cases, here pitting the Commission against Belgium and several multinationals, including Magnetrol International. On 16 September 2021, the Court of Justice sets aside the judgment of the General Court of 14 February 2019 and remits the case back to the General Court to rule on other aspects of the case. We commented on this case at first instance before the General Court (judgment of 14 February 2019: Concurrences No. 2-2019, Art. No. 90446, pp. 129-132). Factual and legal context Since 2005, Belgium has applied a system of exemption of excess profits of Belgian entities that are part of multinational

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Authors

  • Sheppard, Mullin, Richter & Hampton (Brussels)
  • Sheppard, Mullin, Richter & Hampton (Brussels)

Quotation

Jacques Derenne, Ciara Barbu-O'Connor, Tax ruling: The Court of Justice of the European Union considers that the European Commission correctly found the existence of an aid scheme in the context of the tax exemptions granted by Belgium to multinational companies and sets aside the judgment of the General Court of the European Union (Magnetrol International), 16 September 2021, Concurrences N° 4-2021, Art. N° 103385, pp. 119-122

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