The European Commission announced on Wednesday that it has decided to institute proceedings in the European Court of Justice over France's failure to comply with the Commission's December 2003 decision on state aid.
In that decision, the EC indicated that aid awarded by France in the form of exemption from tax for takeovers of ailing companies was incompatible with the state aid rules laid down in the EC Treaty, and should be recovered from the recipients.
However, the Commission revealed that nearly three years later, France has still not taken more than preliminary measures to recover the aid.
Competition Commissioner Neelie Kroes announced that:
"The Commission intends to deal very strictly with Member States that fail to implement its state aid decisions. This is crucial to ensure the credibility of policy in this field."
.
Network Tweets
Network BlogsContent
provided by
|
Archive | Resources | Partners | Site Map | Links | Newsletter Archive | Contact | RSS Feeds | About | Syndication | Advertising & Marketing | Recruitment | Terms & Conditions | Privacy & Cookies
Copyright © 2012 - All Rights Reserved - Tax-News.com
IMPORTANT NOTICE: Tax-News.com has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.
Write a comment