The European Commission (EC), the administrative arm of the European Union (EU) on Thursday fined BMW, Audi, Porsche and Volkswagen €875,189,000 for illegally colluding to restrict competition on emission-cleaning equipment for diesel engines. A news report by Forbes.com indicated that all the five automakers admitted their guilt, although Daimler escaped a €727 million financial penalty […]
A Luxembourg-based General Court on Tuesday annulled an earlier European Union (EU) state-aid ruling which required FC Barcelona, Real Madrid and two other Spanish football clubs to pay back taxes. The latest ruling of the court is the second time the regulators, which are seeking to tackle tax avoidance, are suffering a setback. A news […]
The European Commission on Friday announced the approval under EU State aid rules to extend the existing Danish tonnage tax scheme to additional types of vessels. The measure is expected to encourage ship registration in Europe and contribute to the global competitiveness of the sector without unduly distorting competition. By the latest fiscal measure Denmark […]