Brussels, 10/12/2003 (Agence Europe) - The European Commission has launched a comprehensive inquiry into a taxation arrangement between the Belgian authorities and the Belgian company Umicore, a specialist in precious and advanced metals, in the form of a tax exemption for over 20 million EUR. The Commission, which was informed of the existence of this agreement in October 2001, asked the Belgian authorities for information. They acknowledged its existence, but denied that this constituted a tax advantage for Umicore. Following a preliminary investigation, the Commission was unable to determine whether the tax deductions agreed are anti-competition in comparison with the normal rates charged to business, or whether they were justified by the Belgian tax code, as an exemption to intra-Community trade exchanges. It calls upon the Belgian authorities for greater clarification of the rules it applies, and on third parties to submit comments.