Press Release (30.09.2014)
Three months ago, on 11 June 2014, the Commission adopted a decision opening a State aid procedure against the Grand Duchy of Luxembourg in the Fiat Finance and Trade (FFT) case. In that decision, the Commission had expressed concerns that a tax ruling issued by the Luxembourg tax authorities, regarding the calculation of the taxable basis of the financing activities of FFT contained an advantage for the company. This opening decision has today been published. The publication itself is a mere formal step in the procedure. The text published contains no new elements. Luxembourg has submitted all requested information to the Commission and is fully cooperating with the Commission in the investigation. It is confident that the allegations of State aid in this case are unsubstantiated and that it will be able to convince the Commission in due time of the legitimacy of the tax ruling concerned.
Luxembourg, 30 September 2014.
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