EU opens Belgium tax probe

EU opens Belgium tax probe
By Euronews
Share this articleComments
Share this articleClose Button

EU officials opened an investigation into the tax affairs of major multinationals in Belgium on Tuesday. The probe focuses on so-called “excess

ADVERTISEMENT

EU officials opened an investigation into the tax affairs of major multinationals in Belgium on Tuesday.

The probe focuses on so-called “excess profit” tax rulings and whether they amount to state aid.

They allow companies to reduce their corporate tax liability due to “excess profits” they claim are the result of being part of a multinational group.

EU’s Competition Commissioner Margrethe Vestager said “certain multinationals end up paying taxes only a part of their taxable profits in Belgium without being justified under taxation principles.”

The European Commission declined to comment on how many companies are involved.

It means the EU has now opened five state aid investigations related to corporate tax.

The subject has been back in the spotlight after it emerged more than 300 corporations had brokered favourable tax deals with Luxembourg.

Share this articleComments

You might also like

EU reaches 'political agreement' to sanction extremist Israeli settlers, says Josep Borrell

Biotech strategy launch, Newsletter

In the EU, continued rule of law backsliding keeps weakening our democracies