On 15 December 2023, the General Court of the EU rendered its judgment in Fugro NV vs Council regarding the action for annulment brought by the company against the Pillar Two Directive (T-143/23). The Court decided that the company does not have legal standing to challenge the Directive. As a result, the action was rejected, being considered inadmissible, and there was also no need for the Court to adjudicate on the applications to intervene made by the Kingdom of the Netherlands and other parties.
The present judgment can still be appealed before the Court of Justice, which will have the final saying. Nevertheless, the compatibility of (aspects of) the Pillar Two Directive with EU law can still potentially be assessed by the Court of Justice through the preliminary ruling procedure initiated by national courts.
Read more in our PwC EU Direct Tax Group alert.