The EC requires seven Spanish golf equipment, including Barça and Right Madrid, to return illegal wait on

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In the case of Right Madrid, the refund amounts to 18.4 million euros for the cession of land between Right Madrid and Madrid Metropolis Council, while Valencia, Hercules and Elche must return 20.4 million, 6 , 1 million and 3.7 million for the guarantees granted by the Valencian Institute of Finance for loans granted to these three golf equipment of the Valencian Community.

To boot, Right Madrid, FC Barcelona, ​​Athletic Bilbao and Osasuna must reimburse up to 5 million euros per membership for having got tax privileges.

The choice comes after the European Commission opened a whole lot of investigations broad and came to the conclusion that a whole lot of public wait on measures granted by Spain to these seven legitimate football golf equipment “unfairly benefited them from other golf equipment”, which procedure a violation of Community solutions on Reveal wait on from the European Union.

The first investigation concerned tax privileges in prefer of Right Madrid, FC Barcelona, ​​Athletic Bilbao and Atlético Osasuna, which had been treated as non-profit entities, even though in Spain legitimate football golf equipment are thought to be to be firms nameless for tax functions. To boot, the four golf equipment benefited from a lower tax rate (5%) for “more than 20 years, lån med betalingsanmerkning out an aim justification,” the EC wired.

Spain has meanwhile adjusted its company tax regulations to entire this discriminatory lån med betalingsanmerkningication as of January 2016, nonetheless to set aside away lån med betalingsanmerkning the undue advantages purchased lån med betalingsanmerkningin the past, golf equipment are now obliged to return unpaid taxes.

The EC considers that the amounts to be returned are restricted (between 0 and 5 million per membership), nonetheless the particular amounts that wants to be recovered by Spain shall be plug by the Spanish authorities, acknowledged the EU government.

In a 2nd investigation, the Commission examined an assignment of land between Right Madrid and Madrid Metropolis Council. These investigations sure, lån med betalingsanmerkning the help of an honest peek, that the lands tormented by the transaction had been overestimated by 18.4 million euros. “This gave this membership an unjustified wait on over other golf equipment that now wants to be returned,” the EC wired.

Public funds must meet the criteria of comely competition and, on this case, the subsidies investigated did not meet them “

Margrethe Vestager European Commissioner for Rivals

Finally, the Commission investigated the guarantees granted by the Valencian Institute of Finance (IVF) for loans granted to Valencia, Hercules and Elche.

At that time, these golf equipment had been experiencing financial difficulties and the public guarantee allowed them to maintain the loans in additional good stipulations. By no longer having paid sufficient remuneration for the guarantees, these golf equipment benefited from an economic wait on over others, which must be financed lån med betalingsanmerkning out the increase of the Reveal.

The narrate funding was once no longer linked to a restructuring thought for the golf equipment lån med betalingsanmerkning a peek to their viability, and none of them applied compensatory measures to counter the distortion of competition introduced about by the wait on, the EC acknowledged.

On this kind, in repeat to restore comely stipulations of competition lån med betalingsanmerkning the non-subsidized golf equipment, Valencia, Hercules and Elche must now return the wait on purchased.

Community sources wired that puny golf equipment “will must pay” and that this could well depend on the Spanish Government how these payments are made and if a restructuring is applied.

On the closing dates to return the amounts, the same sources indicated that in two months the authorities must show how the payments shall be made, interior a length of four months, for which the EC grants a total of six months to gain to the bottom of The topic.

They specified that the illegal wait on corresponds to “a restricted quantity”, from which the golf equipment benefited “lån med betalingsanmerkningin the past”, particularly lån med betalingsanmerkningin the final decade.

The European Commissioner for Rivals, Margrethe Vestager, explained that “the utilize of taxpayers’ cash to finance legitimate football golf equipment can distort competition.”

“Real football is a commercial process in which a whole lot of cash is at stake. Public funds must meet the criteria of comely competition and, on this case, the subsidies investigated did not comply, “he added

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