Brussels, 25/03/2014 (Agence Europe) - On Monday, the government of Luxembourg reacted to the European Commission's demands that it provide information about two taxation practices, the fiscal ruling and the intellectual property regime (see EUROPE 11045).
Luxembourg's finance ministry said that “since the summer of 2013, Luxembourg has had a continued and extensive exchange with the European Commission regarding the Commission's request for information on Luxembourg's intellectual property regime as well on its advanced tax decisions which give individual companies the comfort of advanced knowledge of their tax burden”. “As it has just received the two inunctions announced by the Commission, Luxembourg will now duly examine whether these injunctions dissipate the doubts Luxembourg has had so far regarding the legality of the Commission's request. Luxembourg remains committed to fully cooperating with the Commission within the cooperative mechanisms foreseen by EU law ». The Commission has given the country a month to respond, failing which it may take Luxembourg to the European Court of Justice.
Luxembourg says that under bank confidentiality rules, it is not able to divulge all information. The Commission said on Monday that it will respect confidentiality, to which it is itself also bound. (EL)