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Image header Agence Europe
Europe Daily Bulletin No. 12163
Contents Publication in full By article 3 / 36
ECONOMY - FINANCE - BUSINESS / State aids

Gibraltar must recover 100 million euros in illegal tax benefits

The European Commission found on Wednesday 19 December that a corporate tax exemption scheme and five advance tax decisions ('rulings') in force in Gibraltar were incompatible with EU State Aid rules and called on the UK authorities to recover around 100 million euros in this respect. 

This decision follows two in-depth investigations, one opened in October 2013 concerning the corporate tax exemption scheme applied from 2011 to 2013 to interest and royalty income (see EUROPE 10944),...

Contents

ECONOMY - FINANCE - BUSINESS
ITALY: Rome avoids opening of excessive deficit procedure on basis of debt for the moment
FRANCE: French government now expects no structural adjustment in 2019
STATE AIDS: Gibraltar must recover 100 million euros in illegal tax benefits
SECTORAL POLICIES
CIRCULAR ECONOMY: European Parliament and Council agree to vigorously tackle disposable plastic products, the scourge of the oceans
ENERGY: EU institutions reach agreement on review of electricity market
ENERGY: EU ministers welcome future strategy for decarbonising the economy by 2050
FISHERIES: EU ministers' agreement on a special quota exchange mechanism in 2019
AGRICULTURE: European Parliament/Council agreement on measures to combat unfair commercial practices
ENVIRONMENT: Parliament and Council fail to agree on recast of Persistent Organic Pollutants Regulation
SUSTAINABLE DEVELOPMENT: Commission unveils plans to step up EU action against global deforestation
CLIMATE: European Court of Auditors criticises lack of coherence of strategy to combat desertification in Europe
JUSTICE: Commission calls on the United States to appoint a permanent mediator for the Privacy Shield scheme by 28 February 2019
JUSTICE: Council gives go-ahead to 'Rights and Values' and 'Justice' programmes for 2021-2027 period
JUSTICE: political agreement in Council on financial sanctions for European political parties handling personal data for political purposes
JUSTICE: Council validates preliminary inter-institutional agreement on 'ECRIS-TCN' while uncertainty remains in European Parliament
JHA: European Commission warns several Eastern European and Balkan countries about maintaining their visa-free regimes
JHA: Member States have their mandate on the new rules of the Visa Information System
COHESION: Member States adopt a first partial agreement on Rules of Procedure on common provisions
COHESION: 289 billion euros of structural and investment funds have already been committed for period 2014-2020, according to Commission
INSTITUTIONAL
UNITED KINGDOM: Commission wants to limit most damaging effects for EU resulting from a Brexit without an agreement
COUNCIL OF THE EUROPEAN UNION.: after Brexit, Germany and France will have a blocking minority almost by themselves
SECURITY - DEFENCE
NUCLEAR: Ms Mogherini calls for strengthening INF Treaty
CSDP: EU extends mandates of four heads of mission
EXTERNAL ACTION
SWITZERLAND: green light for mandate to negotiate compensation for EU exports of seasoned meat
BOSNIA-HERZEGOVINA: EU and United States welcome the progress made in creation of House of Peoples of Federation
COURT OF JUSTICE OF THE EU
ECB: Latvia has not revealed actual facts leading to suspension of Governor of Bank of Latvia according to Advocate-General
BANKS: EU judge deemed competent to assess legality of the ECB's decision in ‘Fininvest’ case, according to Court
NEWS BRIEFS
WESTERN BALKANS: leaders of Western Balkans commit themselves to demonstrate a spirit of good neighbourliness and reconciliation
TRADE: a study examines trade instruments to assist refugees and their host countries
CYBER SECURITY: Council and Commission refuse to comment on allegations of hacking of diplomatic telegrams
UNITED STATES: Commission extends its investigation into safeguard measures on steel by two months
JHA: Member States shall validate progress made on interoperability of European information systems
GMOs: Commission authorises two Monsanto genetically modified maize varieties used for food and feed
PAYMENTS: Council validates interinstitutional agreement on the alignment of the costs of cross-border payments in euros
TRANSPORT: Green light from Member States on interinstitutional agreement on port reception facilities for delivery of waste from ships
UKRAINE: green light given for warrant to correct chicken breast fraud in trade agreement