EC published opening decision on Luxembourg interest-free loans

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May 2019


The European Commission (EC) on May 3 published the non-confidential version of its opening decision in its State aid investigation into certain tax rulings granted by the Luxembourg tax authorities. These rulings related to that country’s treatment of interest-free loans granted by an Irish group company to a Luxembourg group company.

The takeaway

The decision represents the EC’s preliminary arguments for opening a State aid investigation.  The final decision to be issued pursuant to a detailed investigation will be important for properly assessing the implications of this case.

The decision is the latest in a number of high-profile cases concerning State aid and taxation. However, it is the first case that addresses the treatment of interest-free loans.

Contact us

Maarten Maaskant

International Tax Desk Leader, PwC US

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