EC: Gibraltar & Netherlands Found to Have Unlawful Tax Exemptions as per EU

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The EC has recently looked into Gibraltar’s corporate tax exemption scheme between 2011 – 2013 for interest, royalties and sovereignties was illicit under EU state help regulations. The Gibraltar government presently needs to issue reviewed tax receipts to the recipients of its previous arrangement; requesting additional payment close to the sum of EUR €100 million, which has since been repealed.

Additionally, 5 tax rulings with respect to the tax residency status of associates in Limited Partnerships in the Netherlands were additionally ruled as being unlawful.