The European Union sued the U.K. for failing to recover illegal tax breaks doled out to multinational firms, in the second legal move against the former member state this week.
Authorities still haven’t clawed back all of the 100 million euros ($119 million) in tax breaks aimed at luring multinational firms to the U.K. territory of Gibraltar, more than two years after the EU ruled them illegal, the European Commission said in a Friday statement.
The tax measures “gave an unfair advantage to some multinational companies and had to be recovered by the United Kingdom and the Gibraltar
Authorities still haven’t clawed back all of the 100 million euros ($119 million) in tax breaks aimed at luring multinational firms to the U.K. territory of Gibraltar, more than two years after the EU ruled them illegal, the European Commission said in a Friday statement.
The tax measures “gave an unfair advantage to some multinational companies and had to be recovered by the United Kingdom and the Gibraltar