Eu Tells Luxembourg To Recoup Back Taxes From French Firm

EU tells Luxembourg to recoup back taxes from French firm

BRUSSELS (AP) — The European Union's state aid watchdog is ordering Luxembourg to recover 120 million euros ($139 million) in unpaid taxes from French electricity provider Engie. The watchdog, the European Commission, said Wednesday that Luxembourg allowed two Engie group companies to avoid paying taxes on almost all their profits for about a decade. It said that Luxembourg made tax rulings in 2008 and 2010 in favor of Engie and that this "is illegal under EU state aid rules because it gives Engie an undue advantage.Read more on NewsOK.com

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