European Commission to use state aid powers to scrutinise aggressive tax planning
An important message to all tax planners: the European Commission’s directorate-general for competition has declared war on ‘fiscal optimisation’. It intends to use the antitrust stick to overcome the lack of tax harmonisation at member-state level.
At the recent European Competition Forum in Brussels, competition commissioner Joaquin Almunia declared that he is ready to use the European Commission’s far-reaching state aid powers against ‘aggressive tax planning’ because such planning is — in commissioner Almunia’s view — contrary to the principles of the single market.
The European Competition Forum is an annual event that enables the European Commission to communicate its agenda for future action to all stakeholders concerned. According to Almunia, member-state tax legislation with fiscal loopholes attracts investment to the detriment of other member states and thus is akin to a ‘subsidy race’, which the EU state aid rules are designed to prevent…
Click on the link below to read the rest of the DLA Piper briefing.
Sign in or Register to continue reading this article
It's quick, easy and free!
It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.Register now
Why register to The Lawyer
In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.
Identify the major players and business opportunities within a particular region through our series of free, special reports.
Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.
More relevant to you
To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.
News from DLA Piper
News from The Lawyer
Briefings from DLA Piper
The Australian Taxation Office released a draft ruling on the Goods and Services Tax treatment of bitcoin transactions on 20 August 2014.
DLA Piper’s ‘Life sciences: patent extension strategies and antitrust global update’ video covers global antitrust and competition issues including product hopping and reverse payment patents.
Analysis from The Lawyer
Cross-border work and political tensions are dominating this year’s entries for Finance Team of the Year at The Lawyer Awards.
Regulators are ramping up the pressure in the aftermath of recession, leaving firms to compete for compliance and restructuring work