Electricité de France, the world’s largest power firm, has indicated that it plans to contest a ruling by the European Commission ordering it to repay over EUR1 billion in tax breaks and interest to the French government
In preliminary findings released last November, the European Commission investigation into EDF found that tax breaks offered to the firm by the government amounted to illegal state aid, and ordered the French authorities to recoup, by February 17, EUR888 million in underpaid tax, plus additional interest.
However, the utility firm’s chairman, Francois Roussely, told reporters on Tuesday that EDF will challenge the decision in the European Court of First Instance in a lawsuit to be filed before April 28. It is thought that the company intends to defend its position by arguing that the subsidies were a form of state investment
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