Institute for Research in Economic and Fiscal issues

IREF Europe - Institute for Research in Economic and Fiscal issues

Fiscal competition
and economic freedom


IREF - Institute for Research in Economic and Fiscal issues
Fiscal competition and economic freedom
https://en.irefeurope.org/533

The European Commission requires Spain to abolish tax scheme favouring acquisitions in non EU countries

The Commission has requested Spain, under EU state aid rules, to abolish a 2002 provision in its corporate tax that allows Spanish companies to amortise ’financial goodwill’ deriving from acquisitions of shareholdings in companies in third countries. The Commission also asks for the recovery of any aid granted under this provision since 21 December 2007 where concrete legal obstacles to investment could not be demonstrated.

This follows and closes an investigation which had already resulted in a decision, in 2009, concluding that the scheme amounted to illegal aid as regards acquisitions of shareholdings in other EU countries.

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