(Boursier.com) – Belgium is in turn in the viewfinder of Europe. The Commission has announced the opening of a full investigation into the Belgian tax system allows companies within a multinational reduce corporation tax which they are liable in Belgium, using the advance tax rulings system for “excess profits”. This is the first time that Brussels is interested in a tax ruling system, or “tax ruling” as a whole, having opened investigations into Apple’s practices in Ireland, or Amazon and Fiat in Luxembourg.
Only multinational
“The tax provision under investigation (…) provides the ability to deduct the said benefits” surplus “from the basis of a society. These profits recorded in the accounts of the Belgian entity allegedly arising from the advantage to be part of a multinational group, “says Brussels in a press release. According to the newspaper ” Echo ‘, the agreements between the company and the Belgian tax authorities would have allowed exemptions of up to 60% or even 90%.
“serious distortion of competition”
Brussels therefore doubt “that this tax provision is consistent with the rules of the European Union.” “If our fears were confirmed, this generalized system would be a serious distortion of competition, unduly favoring a limited number of multinational companies. As part of our efforts to ensure that every company pays its fair share of taxes, we must deepen this investigation, “said Margrethe Vestager, the Commissioner responsible for competition policy in Brussels. “The opening of an in-depth investigation gives interested parties the opportunity to submit comments. It does not prejudge the outcome of the procedure,” said the Commission.
– © 2015 Boursier.com
No comments:
Post a Comment