Saturday, July 31, 2010

EU takes Greece to justice over taxation breaks

Wed Feb 24, 2010 6:00am EST Related News EU to investigate German tax support for weak firmsWed, Feb 24 2010

BRUSSELS, Feb 24 (Reuters) - The European Commission istaking Greece to court for failing to recover money given tohundreds of companies through illegal tax exemptions, the EUexecutive said on Wednesday.

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Under the scheme, companies were allowed tax breaks foractivities including car manufacturing, mining and fishing butthe Commission later ruled the benefit broke EU rules.

"The recovery of illegal aid is about restoring a levelplaying field in the single market," EU Competition CommissionerJoaquin Almunia said in a statement.

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