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EU: Belgian tax breaks for multinational companies probed

By  |  February 3, 2015

The European Union is investigating Belgium’s tax deals with multinational corporations, dragging more companies into widening probes of sweetheart fiscal pacts handed out by national governments.

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    The European Commission is targeting Belgium’s so-called excess-profit rulings. Companies operating cross-border could get deductions on half of the profits covered by the Belgian pacts.

    “This is a scheme for multinationals, not only American multinationals,” EU Competition Commissioner Margrethe Vestager said. “It’s not for standalone businesses and it’s not for Belgian groups.”

     

    Full Content: Bloomberg

     

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