The Traderszone Network

Published in TZ Latest News 21 October, 2015 by The TZ Newswire Staff

EU rules Starbucks, Fiat tax deals are illegal

Europe’s competition chief ordered the Netherlands to recover 20-30 million euros in back taxes from Starbucks on Wednesday and told Luxembourg to claim the same amount from Fiat Chrysler Automobiles, saying their favorable tax arrangements breached the bloc’s rules. “Tax rulings that artificially reduce a company’s tax burden are not in line with EU state aid rules. The Commission said Starbucks had benefited from a tax ruling from Dutch authorities in 2008 and Fiat from a ruling in Luxembourg in 2012.