The European Commission launched an investigation on Thursday into whether the Netherlands violated EU rules by allegedly giving Nike unfair tax advantages. Two Nike operating companies based in the Netherlands, the Netherlands of Nike European Operations Netherlands BV and Converse Netherlands BV, were able to claim a tax deduction for royalty payments to two other non-taxable Dutch Nike companies. According to the press release, “The Commission investigation will focus on whether the Netherlands’ tax rulings endorsing these royalty payments may have unduly reduced the taxable base in the Netherlands of Nike European Operations Netherlands BV and Converse Netherlands BV since 2006.” This could have given the two operating companies an unfair advantage over other corporations. If Nike is found to have violated EU laws, the company might have to pay back taxes. Nike claimed that the investigation was “without merit.” According … [Read more...] about European Commission investigates whether Netherlands let Nike avoid taxes
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European Commission to rule out ‘managed no deal Brexit’ in emergency plans
The European Commission will put forward measures to reduce the worst damage of a no deal Brexit when it publishes delayed contingency plans for Britain crashing out of the EU on Wednesday but will rule out any British hopes of a "managed no deal". The strategy will, if backed, allow the EU will unilaterally declare the extension of agreements in selected sectors for between six to nine months to give its member countries time to strike bilateral agreements with Britain. The plans are likely to be seized upon by some Brexiteers as evidence that Brussels could accept a “managed no deal” but, according to the commission, no deal will mean an end to all Brexit negotiations with the UK. An EU official... To continue reading this article Start your free trial of Premium Access all Premium articles Subscriber-only events Cancel any time Free for 30 days then only £2 per week Try Premium Access one Premium article per week Register … [Read more...] about European Commission to rule out ‘managed no deal Brexit’ in emergency plans
European Commission gave £140k grant to organisation accused of anti-Semitism, it emerges
The EU signed off more than £140,000 in funding to the group behind an annual march that MPs have warned features anti-Semitic banners and chants. The European Commission allocated the payment to the Islamic Human Rights Commission (IHRC), which organises the Al Quds rally at which demonstrators call for the destruction of Israel. A European Commission spokesperson told The Sunday Telegraph it is now preparing to "terminate" its agreement with the group, but declined to say how much had already been paid to the IHRC. "The Commission stands firmly against all forms of anti-Semitism," he said. The disclosure that the Commission agreed tens of thousands of pounds in funding to such a controversial... To continue reading this article Start your free trial of Premium Access all Premium articles Subscriber-only events Cancel any time Free for 30 days then only £2 per week Try Premium Access one Premium article per week Register for free … [Read more...] about European Commission gave £140k grant to organisation accused of anti-Semitism, it emerges
Alstom and Siemens submit measures to European Commission to get their deal passed
PARIS (Reuters) - Siemens <SIEGn.DE> and Alstom <ALSO.PA> have agreed to submit measures to the European Commission in order to get their planned rail merger approved, after regulators had raised concerns over the deal."The proposed remedies include mainly signalling activities as well as rolling stock products and represent around four percent of the sales of the combined entity," the German and French companies said in a joint statement. gi "The parties consider that the proposed remedy package is appropriate and adequate. There is, however, no certainty that the content of this package will be sufficient to alleviate the concerns of the Commission. A decision by the Commission is expected by February 18, 2019," they added.In 2017, Siemens and Alstom struck a deal aimed at creating a European champion to challenge the advance of China's state-owned CRRC <601766.SS>. Rivals say the power of the combined company could shut them out of the European market. … [Read more...] about Alstom and Siemens submit measures to European Commission to get their deal passed
How old is Jean-Claude Juncker and when did he become President of the European Commission?
JEAN Claude Juncker is the current President of the European Commission. But who is he and when did he get the job? Here's our lowdown... Who is Jean-Claude Juncker? Jean-Claude Juncker is a Luxembourgish politician and current President of the European Commission. He is fluent in Luxembourgish, French, German, and English. He was the 23rd Prime Minsiter of Luxembourg, and served as the country's Minister for Finances from 1989 to 2009. How old is he? Jean-Claude was born on 9 December 1954. The 63-year-old was born in Redange, Luxembourg, and grew up in Belvaux. 'THIS IS BRUTAL' Dynasties viewers left traumatised as penguin chick abandoned by its mum DEAD WRONG Plaque in 'loving memory' of SADDAM HUSSEIN appears on bench in bizarre prank RAM RAID TRIAL Moment 'samurai sword-wielding gang knife hero outside jewellery store' instafan Student haunted by mystery 'stalker' lookalike who copies her social media posts FIRES OF HELL What caused the California wildfires and why have they … [Read more...] about How old is Jean-Claude Juncker and when did he become President of the European Commission?