Cadbury tax case could hit EU coffers

Stefano Marchese, Vice-President of the European Federation of Accountants, has warned that Member States could lose €400-500 million in annual tax revenues if Cadbury Schweppes wins a European Court of Justice (ECJ) case that began on 13 December 2005. European governments were also braced for an ECJ ruling due on 13 December 2005 on a case brought by UK retailer Marks and Spencer.