Recommendation (EU) 2020/1039 on making State financial support to undertakings in the Union conditional on the absence of links to non-cooperative jurisdictions

Author (Corporate)
Series Title
Series Details L 227, Pages 76-79
Publication Date 16/07/2020
Content Type

Summary:

Recommendation published by the European Commission on 14 July 2020 on financial support to companies with links to tax havens.

Further information:

This Recommendation sets out a coordinated approach to making the granting of financial support by Member States (state aid) conditional on the absence of links between the recipient undertaking and jurisdictions which feature on the EU list of non-cooperative jurisdictions.

In order to verify compliance with the rule prescribing the absence of links to jurisdictions that feature on the EU list of non-cooperative jurisdictions, Member States should ensure that not only the immediate shareholders but also the ultimate owner and all other undertakings under the same ownership are not tax resident in, or incorporated under the laws of, such a jurisdiction.

Source Link https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=uriserv:OJ.L_.2020.227.01.0076.01.ENG
Alternative sources
  • https://ec.europa.eu/taxation_customs/sites/taxation/files/recommendation_state_aid_tax_havens.pdf
Related Link(s)
Official
European Commission: Press Release, 14/07/2020: State Aid: Commission recommends not granting financial support to companies with links to tax havens https://ec.europa.eu/commission/presscorner/detail/en/ip_20_1332

Subject Categories ,
Subject Tags ,
Keywords ,
International Organisations