European Court annuls the decision of the European Commission that Excess Profit rulings are State Aid
The General Court decided that the European Commission has made an error in its decision where it concluded that the Belgian excess profit regime resulted in a so-called ‘State aid scheme’. As a result of this approach under a State aid scheme (rather than assessing each of the rulings involved), the European Commission limited its
Law implementing recovery procedure with regard to the Belgian excess profit provision adopted
Belgium has adopted on 22 December 2016 the law covering the implementation of the European Commission (‘EC’) decision of 11 January 2016 (‘Decision’) with regard to the Belgian excess profit provision based on Article 185 §2 of Belgian Income Tax Code 1992 (‘BITC’). The law, which has been drafted in cooperation and with the approval
European Commission takes the next step in its EU-wide State aid review of tax ruling practices
On 8 June 2015, the European Commission announced its next steps in its EU-wide State aid review of Member States’ tax ruling practices. The European Commission states in its press release that, following the December 2014 enquiry, Estonia and Poland refused to respond in full detail to the information request. Therefore, the Commission has now
European Commission publishes decision to investigate the Belgian excess profit provision
The non-confidential version of the European Commission’s opening decision announcing the formal investigation into the Belgian Excess Profit provision embodied in section 185 §2, b) of the Income Tax Code was published in the EU’s Official Journal on 5 June 2015. Beneficiaries of excess profit rulings are requested to submit their comments at the latest one
European Commission announces investigation into Belgian excess profit ruling system
On 3 February 2015, the European Commission released a press release announcing an in-depth investigation into a Belgian tax provision that allows group companies to reduce their corporate tax basis with a profit part that results from the advantage of belonging to a multinational group, on the basis of what is referred to as an “excess profit” tax ruling. The press release
