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On 7 March 2019, the European Commission (EC) issued a press release announcing the opening of a State aid investigation into tax rulings granted by the Luxembourg tax authorities to a Luxembourg subsidiary of a Finnish group in relation to the treatment of interest-free loans granted by another Irish subsidiary of the group to the Luxembourg company.

The decision is the latest in a number of high profile cases concerning State
aid and taxation and it is the first one that concerns the treatment of interest free loans.