The CJEU has ruled that tax measures may avoid categorisation as State aid if the State acts as a private investor. This ruling casts a new light on the application of the market economy investor principle to tax measures, but is unlikely to open Pandora's box.
On 5 June in European Commission v Électricité de France (EDF) C-124/10 P the CJEU confirmed an earlier ruling by the General Court annulling an EU Commission decision that declared a French tax measure to constitute a state aid. According to the Court in 1997 in the context of the restructuring of EDF’s balance sheet and increasing of its capital the French State had waived a tax claim valued at approximately €890m corresponding...
