GERMAN PHARMA COMPANIES MAY HAVE TO REPAY TAX BREAK
July 1st, 2013
GERMAN pharmaceutical companies facing financial difficulties may have to repay a special tax break designed to help them from going out of business, courtesy of the European Commission. It has opened a formal ‘state aid’ inquiry into these tax reductions. Brussels fears they break European Union (EU) government subsidy rules designed to prevent EU governments from giving unfair assistance to local companies operating in the borderless EU market.If the Commission concludes that is so, it could order companies who benefited pay these taxes.The exemptions are ...
Full access to this article can be arranged with permission from the client that first ordered it. Please contact us to request access. Entries are uploaded to our archive at least one year after being published by a client – free access is restricted to International News Services journalists for background research only. The article date indicates when copy was filed to a client, not when posted to this archive. Upon client requests, International News Services will remove such articles from the archive or not upload them in the first place. They are included to demonstrate the breadth of topics undertaken by the agency and also to help promote clients’ coverage.