ANNOUNCEMENT 03 Mar 2016In March 2016, the government of Greece announced a targeted tax change.
NUMBER OF INTERVENTIONS
EC press release
On 3 March 2016, the European Commission announced in a press release that it had approved state aid granted by Greece to the Trans Adriatic Pipeline (henceforth: TAP).
The Greek government has agreed to provide TAP with a special tax regime for the duration of 25 years from the operational start of the pipeline. An exact amount of state aid has not been specified; however, TAP will invest 2.3 billion EUR in Greece alone. Also, the pipeline shall satisfy one sixth of Italy's gas consumption after it becomes fully operational.
According to the Commission, "This may give the company an economic advantage over its competitors, who would not benefit from the specific tax regime, and therefore involves state aid in the meaning of the EU rules".
A state measure in the GTA database is assessed solely in terms of the extent to which its implementation affects the extent of discrimination against foreign commercial interests. On this metric, the state aid proposed here is discriminatory.
The list of affected trading partners is based on 2014 trade volumes.