MOVES AGAINST FIAT SIGNAL BROADER TAX CLAMPDOWN
June 6th, 2014
A European Commission investigation into Fiat’s tax arrangements in Luxembourg has put the spotlight on alleged backdoor subsidies received by Europe’s automobile manufacturers and comes at a difficult time for the sector.At the heart of the probe is the suggestion that Luxembourg authorities gave Fiat finance and trade an unfair advantage over other companies in a 2012 “tax ruling” that calculated the company’s taxable profits.Announcing the inquiry (on June 11), Joaquin Almunia, the European Union’s (EU) competition Commissioner and key antitrust ...
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