It has been revealed that the European Commission's investigation into France Telecom, which could result in the national telecommunications firm paying up to €1 billion in back taxes, may drag on longer than expected.
A decision by the European Union’s executive body on the tax aspect of the case is anticipated on July 14. However, Dow Jones Newswires has reported that an unnamed person closely involved in the investigation “wouldn't be surprised if it drags on” much longer than this.
According to a recent Financial Times report, Commission investigators believe that the firm received around €1 billion in subsidies during the period between 1994 and 2003 because of favourable rates and thresholds for the taxe professionnelle business levy, amounting to illegal state aid under European Union rules.
It is also believed that the Commission is to extend its enquiry into a second case of alleged state aid resulting from statements made by the then Finance Minister Francis Mer in July 2002, which the EU believes unfairly boosted France Telecom’s share price.
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