EU regulators right to say Belgian tax rulings constitute aid scheme

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© Reuters. European Union flags flutter outside the EU Commission headquarters in Brussels, Belgium May 5, 2021. REUTERS/Yves Herman

BRUSSELS (Reuters) – EU competition enforcers were right to say that a series of Belgian tax rulings to multinationals was an aid scheme, Europe’s top court said on Thursday.

“The Commission correctly found that there was an aid scheme,” the EU Court of Justice said.

Judges referred the case back to the lower tribunal, which in 2019 annulled the European Commission’s 2016 decision ordering Belgium to recover some 700 million euros ($825.3 million) from more than 30 multinationals including U.S. manufacturer Magnetrol and BP (NYSE:).

The case is C-337/19 P Commission v Belgium and Magnetrol International.

($1 = 0.8482 euros)

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