LUXEMBOURG—EU competition regulators secured a big win on Thursday when Europe’s top court backed their crackdown on Belgium’s 700-million-euro ($825-million) tax scheme for Magnetrol, BP and more than 30 other multinationals.
European competition chief Margrethe Vestager launched a fight against sweetheart tax deals nearly a decade ago. She has won three cases at a lower tribunal but lost two, including an order to iPhone maker Apple to pay 13 billion euros ($15.3 billion) in Irish back taxes which was dismissed by the tribunal last year.
