On 7 November 2014, the General Court of the European Union (EGC) announced two judgments annulling European Commission decisions that Spanish amortization rules for foreign investments constituted illegal State aid.
The decisions annulled are in regard to the Spanish law on corporation tax, where a company which is taxable in Spain, acquires a shareholding in a foreign company of at least 5% and holds it without interruption for at least one year, the goodwill resulting from that sharehold…