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Today’s Top Headlines




Luxembourg Denies State Aid Given To Engie

by Ulrika Lomas, Tax-News.com, Brussels

20 September 2016

The Government of Luxembourg has rejected the European Commission's claim that it provided favorable tax treatment to French energy company Engie in breach of European Union state aid rules.

A statement issued by the Ministry of Finance on September 19 said: "Luxembourg considers that no special tax treatment or selective advantage has been awarded to any Engie group company in Luxembourg."

The statement confirmed that the Government intends to cooperate with the investigation, which it said is unrelated to other inquiries into Luxembourg's corporate tax rules.

"Luxembourg will submit to the Commission all information required in the context of this investigation," the Ministry said.

It was also stressed in the statement that the Commission's decision is "a procedural step" that will not influence the final outcome of the investigation.

The Commission announced on September 19 that several tax rulings issued by Luxembourg may have given GDF Suez an unfair advantage over other companies. The Commission will investigate whether Luxembourg tax authorities "selectively derogated" from provisions of national tax law in tax rulings issued to GDF Suez by treating the same financial transaction between companies of GDF Suez as both debt and equity in certain instances.

TAGS: Finance | tax | European Commission | energy | law | corporation tax | Luxembourg | transfer pricing | Europe | BEPS

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