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EU Says Luxembourg Must Recoup €120M In Tax From Engie

Law360, Brussels (June 20, 2018, 12:22 PM EDT) -- Luxembourg must recoup €120 million ($139 million) in unpaid taxes from French energy company Engie due to illegal state aid on a tax deal, the European Commission said Wednesday as the company quickly denied the charges and vowed to appeal.

European Competition Commissioner Margrethe Vestager said complex financing structures set up by Engie and endorsed by Luxembourg produced illegal tax benefits for the energy company. (AP) Luxembourg tax rulings endorsed two complex financing structures Engie put in place that treat the same transaction as both debt...
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