EU Urges Blocking State Aid To Companies In Tax Havens

Law360 (July 14, 2020, 1:51 PM EDT) -- The European Commission recommended Tuesday that financial support for companies in the future be contingent on their not making use of countries on the European Union's so-called tax haven blacklist.

The commission recommended that restrictions also apply to companies that have been convicted of serious financial crimes. The measure is meant to protect the integrity of the internal market by ensuring countries don't unduly erode their own tax bases or distort competition within the EU.

The novel coronavirus pandemic and the economic response to it has "prompted unprecedented action at national and [European] level to support member states' economies," the commission...

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