Brussels, 03/11/2009 (Agence Europe) - On Friday 30 October, the European Commission closed an in-depth investigation which it started in March 2007 into a Hungarian taxation regime, which provides for an interest deduction to be granted to companies of the same group. The Commission was concerned that this measure could distort competition within the single market, as it was not open to all businesses established in Hungary, meaning that it could amount to state aid. However, in view of the fact that the measure in question was brought in before Hungary acceded to the EU, and of uncertainties concerning the qualification of the scheme as aid at the time of its introduction, the Commission reached the conclusion that it was existing aid, which is generally assessed under a specific raft of rules known as the "cooperation procedure" (which does not entail the recovery of the aid granted). As Hungary has already adopted a law repealing the regime as of 1 January 2010, the European executive took the view that there were no grounds to open the cooperation procedure. (O.L./transl.fl)