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Santander, Iberdrola, others face new EU appeal over Spanish tax benefits

By Lewis Crofts ( December 26, 2023, 13:40 GMT | Insight) -- A state aid battle over tax advantages given by Spain to some of its largest companies including Banco Santander, Iberdrola and Ferrovial is returning to the EU's top court, after the European Commission appealed a loss at first instance. The litigation relates to a 2014 EU decision to strike down the alleged extension of a Spanish corporate tax scheme for domestic companies making acquisitions abroad, which was found to breach state aid law.The European Commission is going back to court in its quest to find the Spanish government gave illegal aid to companies including Banco Santander, Ferrovial and Iberdrola. ...

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