EU court rules on Starbucks and Fiat tax breaks

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EU court rules on Starbucks and Fiat tax breaks
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President Trump was taken aback when Treasury chief Steven Mnuchin said the U.S. asked China's trade delegation to reschedule a farm tour.

Fiat will have to repay up to 30 million euros back in taxes, Europe's second highest court ruled Tuesday.

EU Commissioner of Competition Margrethe Vestager speaks during an interview to AFP at the European Commission in Brussels on May 3, 2019.Fiat will have to repay up to 30 million euros back in taxes, Europe's second highest court ruled Tuesday. The European Commission concluded four years ago that Luxembourg and the Netherlands granted selective tax advantages to Fiat and Starbucks, respectively. The tax arrangements were described by the Commission as "artificial and complex" and meant that both firms paid lower tax rates.

However, the European second highest court decided differently on both cases. "The General Court confirms the Commission's decision on the aid measure granted by Luxembourg to Fiat Chrysler Finance Europe," the court said in a press release Tuesday.

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