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Swedish bankers’ association, Länsförsäkringar lose appeal of ‘risk tax’ on credit institutions at EU court

( April 17, 2024, 08:50 GMT | Official Statement) -- MLex Summary: Svenska Bankföreningen — a sector association — and Länsförsäkringar Bank have lost their appeal at the EU General Court, where they sought to challenge the European Commission's decision on a Swedish “risk tax” on large credit institutions. In 2021, the commission concluded that the measure didn't involve state aid. The pleas by Svenska Bankföreningen and Länsförsäkringar Bank included that the EU executive had failed to conduct a formal probe and that its preliminary review was insufficient. In today's ruling, the court fully dismissed the legal challenge, finding that the applicants hadn't shown that the commission should have had doubts about the classification of the tax under EU state aid rules.The ruling is attached. The case reference is T-112/22....

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