EUROPEAN COMMISSION PROBES SPANISH TAX BREAK
July 1st, 2013THE EUROPEAN Commission is proving a new Spanish tax break, saying it could break European Union (EU) state aid laws limiting the payment of public subsidies. Spain plans to allow tax deductions for indirect acquisitions by Spanish residents and companies of shareholdings in non-Spanish companies, which are not available for such purchases within Spain. Brussels says this could amount to an illegal public subsidy, and so would be banned under EU law.
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