Brussels, 22/07/2015 (Agence Europe) - The European Commission has concluded that the French electricity company EDF was granted an undue tax break and must pay back to the French state a total amount which has been put at €1.37 billion (€889 million in tax exemptions in 1997 and €488 million in interest).
France did not levy all the corporation tax payable by EDF in 1997 when certain accounting provisions were reclassified as capital. Taking the view that this tax exemption gave the...