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Belgium's $762 Million Tax Loophole Shut in EU Payback Order
2016-01-12 02:08:33| Appliances - Topix.net
The European Union ordered Belgium to recover about 700 million euros in illegal tax breaks given to at least 35 companies, including Anheuser-Busch InBev NVand BP Plc, as regulators continued a crackdown on overly generous tax schemes throughout the 28-nation bloc. The European Commission told Belgium to recoup the full unpaid tax, saying that excess-profit rulings allowed global corporations to reduce their tax base by as much as 90 percent.
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Category:Consumer Goods and Services