Breaking News
0

AB InBev Among 39 Firms Targeted by New EU Probe on Belgian Tax

Stock MarketsSep 16, 2019 06:50AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. AB InBev Among 39 Firms Targeted by New EU Probe on Belgian Tax

(Bloomberg) -- Anheuser Busch Inbev (NYSE:BUD) is among 39 firms targeted by fresh European Union investigations into Belgian tax deals after an earlier order to recoup about 800 million euros ($885 million) was criticized by an EU court.

The European Commission opened separate probes into so-called tax rulings that Belgian doled out to multinational companies from 2005 to 2014, it said in an emailed statement on Monday. The rulings "may have given a selective advantage" to the companies "allowing them to pay substantially less tax."

The other companies targeted include BASF (DE:BASFN), BP (LON:BP), British American Tobacco (LON:BATS), Atlas Copco (OTC:ATLKY) , Belgacom, Dow Corning, Pfizer (NYSE:PFE), Wabco (NYSE:WBC), Celio International, and Bridgestone (T:5108).

The announcement comes a day before Apple (NASDAQ:AAPL) fights another tax battle with the EU at the same court, hoping it can also overturn an order to pay back billions of euros. Starting new probes in a case the EU thought it had wrapped up in 2016 shows the determination of Margrethe Vestager, the EU’s antitrust chief, to push on with a corporate crackdown. She’s been tasked with drafting new digital tax rules if global reforms don’t make progress.

The EU’s General Court threw out the initial tax investigation in February, saying regulators had failed to show the 39 firms were part of a specific tax program. The new investigations avoid that issue by probing each deal individually. The commission says the “excessive profit” rulings resulted in exempting the companies’ accounting profit from tax by more than 50% and sometimes up to 90%.

AB InBev Among 39 Firms Targeted by New EU Probe on Belgian Tax
 

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email