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BRUSSELS (Reuters) – Europe’s second-highest court will rule on Thursday whether a Belgian tax break which benefited some 35 large companies is illegal state aid, a judgment which could provide clues to other tax cases involving Apple, Starbucks and Fiat Chrysler. As part of its crackdown on tax avoidance, the European Commission three years ago ordered Belgium to recover some 700 million euros ($790 million) from the group, saying the companies’ “excess profit” tax plan gave them an unfair advantage vis-a-vis smaller firms barrel cuff with cufflinks.
The scheme allowed the companies to claim deductions for economies of scale, reducing their corporate tax base by 50-90 percent barrel cuff with cufflinks. Dutch industrial company Magnetrol and Belgium subsequently challenged the Commission’s decision at the Luxembourg-based General Court. The largest beneficiaries were Wabco, Cellio, BP, BASF, Atlas Copco and Belgacom. Judges may also rule whether it qualifies as a scheme or are just individual tax rulings. The tax avoidance drive has included orders to Ireland to recover some 13 billion euros from iPhone maker Apple and Luxembourg to claw back up to 30 million euros from Fiat Chrysler, 250 million euros from Amazon and about 120 million euros from Engie..
The Netherlands has to recover between 20-30 million euros from Starbucks. All the major companies have challenged the EU rulings. At stake is whether the Commission is over-stretching its powers by using its state aid tool to address tax fairness concerns. The United States has criticized the cases against U.S. companies and notably in the Apple ruling it has accused the EU of grabbing revenue intended for U.S. coffers barrel cuff with cufflinks. The cases are T-131/16 Belgium v Commission and T-263/16 Magnetrol International v Commission..
(Reuters) – The Pentagon will evaluate the certification for Elon Musk’s SpaceX launch vehicles to determine whether the U.S. Air Force complied with certain guidelines, according to a memo here on Monday. “Our objective is to determine whether the U.S. Air Force complied with the Launch Services New Entrant Certification Guide when certifying the launch system design for the Evolved Expendable Launch Vehicle-class SpaceX Falcon 9 and Falcon Heavy launch vehicles,” U.S barrel cuff with cufflinks. Department Of Defense Deputy Inspector General Michael Roark said in the memo..
The review will begin this month, the memo stated. In December, a SpaceX rocket carrying a U.S barrel cuff with cufflinks. military navigation satellite blasted off from Florida’s Cape Canaveral, marking the space transportation company’s first national security space mission for the United States. The successful launch was a significant victory for billionaire Musk, who has spent years trying to break into the lucrative market for military space launches dominated by Lockheed Martin Corp and Boeing Co. Musk’s privately held rocket company said last month it would reduce its workforce by about 10 percent of the company’s more than 6,000 employees, citing “extraordinarily difficult challenges ahead”..