US Senators push for fairness in EU State Aid Investigations

In recent years, the EU has launched a series of formal investigations into its member countries’ tax treatment of various multinational companies.

The Senate Finance Committee has examined the potential impact these investigation could have on U.S. firms. Today, the Senators urged Secretary Lew to increase efforts to caution the EU Commission to avoid imposing retroactive results that are inconsistent with international tax standards.

“Our concerns are driven not only by these initial cases, but also by the precedent they will set that could pave the way for the EU to tax the historical earnings of many more U.S. companies – in some cases, the earnings in question could have been generated up to a decade ago”. We urge Treasury to intensify its efforts to caution the EU Commission not to reach retroactive results that are inconsistent with internationally accepted standards and that the United States views such results as a direct threat to its interests. We also ask that you consider, under section 891, whether U.S. corporations are being subjected to discriminatory taxation.”

The letter can be found hereUS Senators push for fairness in EU State Aid Investigations

25 januari 2016

David van Wordragen

 

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