The General Court of the European Union has dismissed the appeal by Nike and Converse to overturn the European Commission’s decision of January 2019 to open a formal investigation into the tax rulings that they benefited from in the Netherlands between 2006 and 2015 (see EUROPE B12169A16), in a judgment handed down on Wednesday 14 July (Case T-648/19).
From a fiscal perspective, these tax rulings validate a transfer pricing transaction, in particular the level of royalties owed by Nike...