Fiat: Luxembourg did not grant illegal State aid

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In October 2015, the European Commission found that a tax ruling granted by Luxembourg to Fiat Chrysler Finance Europe (“FFT”) in 2012 (“Ruling“), validating certain transfer pricing methodologies to assess the annual taxable profit of FFT, constituted State aid and ordered Luxembourg to recover from FFT the unlawful and incompatible aid. In 2019, the General Court of the European Union (“General Court”) dismissed the actions brought by FFT and the Grand Duchy of Luxembourg and confirmed the validity of the Commission’s decision…