Stockholm, Sweden, February 14, 2019: Today the General Court of the European Union annulled the European Commission’s decision of January 11, 2016 that certain Belgian tax rulings granted to multinationals with regard to “Excess Profit” shall be considered as illegal state aid.
The 2016 decision, which Atlas Copco appealed, concerned the years 2010-2015. As communicated earlier Atlas Copco paid the amount to cover the potential liability, in total MEUR 313 (MSEK 2,952), to the Belgian Government to avoid further interest charges.
The Commission can appeal the decision to the European Court of Justice within approximately two months.
"We welcome today's decision", said Mats Rahmström, President and CEO of the Atlas Copco Group. "We will now await the European Commission’s next steps", said Mats Rahmström.
This information is information that Atlas Copco AB is obliged to make public pursuant to the Securities Markets Act. The information was submitted for publication at 17:15 CET on February 14 2019.
Atlas Copco Group Great ideas accelerate innovation. At Atlas Copco we have been turning industrial ideas into business-critical benefits since 1873. By listening to our customers and knowing their needs, we deliver value and innovate with the future in mind.
Atlas Copco is based in Stockholm, Sweden with customers in more than 180 countries and about 37 000 employees. Revenues of BSEK 95/ 9 BEUR in 2018.