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Belgian tax exemptions to firms that are part of multinationals constitute unlawful aid, EU court says

( September 20, 2023, 08:21 GMT | Official Statement) -- MLex Summary: The EU General Court said today that the European Commission was right to conclude that a Belgian tax program — which exempted certain excess profits of Belgian companies that are part of multinationals — breached EU state aid provisions. In 2016, the commission ordered the country to recoup 700 million euros in unpaid taxes from multinationals. The court thus rejected all arguments put forward by Belgium to challenge the decision, finding that the commission had shown that the program granted tax advantages to its beneficiaries. In addition, judges also dismissed 29 actions brought by companies including Magnetrol International, Siemens Industry Software and BASF.The statement and the judgments are attached....

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