The General Court of the European Union today annulled findings of the European Commission, that the Spanish tax lease system was “illegal state aid.” The General Court concluded that the Spanish tax measures were not a selective advantage.
As explained in today’s court release [PDF 166 KB], complaints against the Spanish tax lease system asserted that it allowed maritime shipping companies to buy sea-going vessels built by Spanish shipyards at prices reduced by 20% to 30%, resulting in the loss of shipbuilding contracts for the complainants. The EC in 2013 took the position that certain tax measures under the Spanish tax lease system constituted illegal state aid, and order the recovery of the aid from certain investors. Today, the General Court annulled that EC decision.
Read a December 2015 report [PDF 83 KB] prepared by KPMG’s EU Tax Centre
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