Fiat Chrysler reiterates did not receive state aid
“FCF did not receive any state aid and … any finding in this matter would be immaterial to the FCA Group’s reported results,” FCA said in a statement.
MILAN: Fiat Chrysler Automobiles (FCA) denied again on Tuesday having received state aid from Luxembourg in a tax-related case, adding any findings by the European Commission on that matter would have no significant impact on its reported results.
The comments follow a report in The Financial Times which said the Italian-American group was facing tax repayments estimated at between 30-200 million euros ($34-227 million) after its subsidiary Fiat Chrysler Finance Europe (FCF), which lends money to other Fiat companies, found itself in the firing line over a transfer pricing arrangement with Luxembourg.
“FCF did not receive any state aid and … any finding in this matter would be immaterial to the FCA Group’s reported results,” FCA said in a statement.
Three people familiar with the matter told Reuters last week that Starbucks and FCA would be told by European authorities this week that their tax deals breach EU state aid rules as regulators seek to crack down on tax avoidance across the bloc.
