OrbitaxEU General Court Upholds European Commission Decision that UK Group Financing Exemption under CFC Rules Constituted Illegal State Aid for Certain Multinationals
|Approved Changes|United Kingdom-European Union
On 8 June 2022, the General Court of the European Union issued its judgment in joint cases T 363/19 and T 456/19, which concern 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. In the decision, the Comm…
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