EU wants to limit influence of foreign subsidies

Published: 27.04.2022 Related countries:  Egypt Egypt

The European Parliament has backed a proposal requiring to limit imact that could distort competition in the EU.

The European Parliament's International Trade Committee has backed a proposal requiring all companies doing business in the European Union to disclose information on foreign subsidies received. The aim of the standard is to protect EU companies from the impact of corporate aid coming from outside the EU that could distort competition in the EU. MEPs agreed that the European Commission must be able to investigate and mitigate the impact of, for example, foreign capital injections, loans, tax incentives, tax exemptions or debt relief.

Source: www.cianews.cz/en
Prepared by the team of CzechTrade Egypt