The EU Commission today published a non-confidential version of its decision that Belgium’s excess profits tax scheme is illegal under EU State aid rules.
The Commission’s decision, first announced in a press release last January, concludes that a selective advantage was provided by Belgium through its excess profits tax regime which is contrary to EU law. The Commission ordered Belgium to recover the aid from the multinationals that benefited from the scheme. About €700 million in unpaid taxes must be recovered.
Belgium is appealing the decision in the EU General Court of Justice.
The document released today includes the EU Commission’s legal reasoning in support of its decision. The Commission also released a list of the 36 multinationals that took advantage of Belgium’s tax regime that must pay the aid back to Belgium. These companies are:
BASF Antwerpen, Celio International NV, BP Aromatics Limited NV, The Heating Company, LMS International, Tekelec International sprl, VF Europe bvba, Noble International Europe, Eval Europe NV, Bridgestone Europe NV, St Jude Medical CC bvba, Trane bvba, Luciad NV, Ontex bvba, Dow Corning Europe SA, Soudal NV, Belgacom Int. Carrier Services, Atlas Copco Airpower NV, Evonik Oxena Antwerpen NV, Chep Equipment Pooling NV, Nomacorc, Pfizer Animal Health SA, Kinepolis Group NV, FLIR Systems Trading Belgium bvba, ABI, AMPAR, Knauf Insulation SPRL, Capsugel Belgium NV, Wabco Europe BVBA, Delta Light NV, Punch Powertrain NV, Puratos NV, Omega Pharma International, Esko Graphics BVBA, Magnetrol International NV, Mayckawa Europe NV.
MNE Tax will publish expert analysis of the legal position outlined in the Commission’s decision later this week.
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