Santander, AXA Appeal EU Challenge To Spanish Tax Break

Law360 (January 31, 2019, 1:45 PM EST) -- Santander Bank and insurance company AXA are appealing a November European Union court ruling that deemed a Spanish corporate tax break to be a breach of the bloc’s competition laws, according to documents published by the court.

The cases, filed Jan. 25 and appearing on the court’s website Wednesday, were the latest stage in a decadelong saga that has led the bloc to redefine the circumstances in which tax advantages are deemed to unfairly favor a particular sector and constitute unlawful state aid. The EU’s general court last year ruled against the financial institutions, as well as Deutsche Telekom and the multinational...

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