Following widespread speculation that the European Commission was gearing up to reject its planned granting of state aid to fund the expansion of a key Intel plant in Leixlip, the Irish government this week withdrew the request altogether with unknown consequences for the Intel project, upon which construction is already underway.
When it developed its last facility in Ireland, Intel received more than EUR100 million in state aid. However, Competition Commissioner Neelie Kroes recently announced her intention to crack down on state aid offered by older and more prosperous EU member states to attract investment, allowing it to be granted only for training or innovation.
The Irish government has not, as yet, revealed its next move with regard to the Intel expansion. However, this climbdown is likely to have far-reaching implications for the Republic's grant-based industrial aid policy.
.
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