OrbitaxCJEU Annuls European Commission Decision that UK Group Financing Exemption under CFC Rules Constituted Illegal State Aid for Certain Multinationals
|Approved Changes|European Union-United Kingdom
On 19 September 2024, the Court of Justice of the European Union (CJEU) issued its judgment concerning the European Commission's 2 April 2019 decision finding that the group financing exemption allowed under the UK's controlled foreign company (CFC) rules gave an illegal tax advantage to certain multinationals, constituting illegal State aid. As previously reported, the decision was upheld b…
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