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EU rules Starbucks, Fiat tax deals illegal

One leading consultant says the case will rock corporate world to its very core, throwing tax planning into disarray

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European flags fly at the entrance of the European Commission headquarters in Brussels, Belgium on Sept 29, 2015.

Brussels

THE European Commission ruled on Wednesday that Starbucks Corp and Fiat Chrysler Automobiles benefited from illegal tax deals with the Dutch and Luxembourg authorities, dealing a heavy blow to profit-shielding arrangements used by many multinationals.

Antitrust