Fiat unit says Luxembourg tax ruling is legitimate
MILAN, June 11 (Reuters) - The finance unit of Italian car maker Fiat said on Wednesday it was confident of the legitimacy of a tax deal with Luxembourg that the European Commission is currently investigating.
In a statement, Fiat Finance and Trade said it was surprised by the Commission's decision to open a state aid investigation into tax deals that Ireland, the Netherlands and Luxembourg have cut with Apple, Starbucks and Fiat.
The company, which has performed cash management and treasury activities for Fiat for 15 years, had requested a tax ruling from Luxembourg to clarify the tax treatment to be applied in financing activities to subsidiaries.
"The company has no reason to believe that any favorable treatment was contemplated by the tax authorities in Luxembourg on issuing such tax ruling, because in fact no such treatment was ever received," Fiat Finance and Trade said in a statement. (Reporting by Lisa Jucca, editing by Silvia Aloisi)
© Thomson Reuters 2016 All rights reserved.