The European Commission decided on Friday 19 March to refer the United Kingdom to the Court of Justice of the European Union for failing to fully recover illegal State aid of up to around €100 million, granted as a tax exemption for passive interest and royalties in Gibraltar (see EUROPE B12163A3).
This case relates to events prior to the UK’s withdrawal from the EU.
At the end of 2018, the Commission adopted a Decision regarding Gibraltar’s corporate tax exemption regime for passive...