WOLFSBURG (dpa-AFX) - Volkswagen AG's (VKW.L, VLKAF.PK, VOW.BE) fiscal affairs in Luxembourg are under scrutiny from the European Union watchdogs, Bloomberg reported citing a person familiar with the matter.
The European Commission's competition unit is looking into whether the carmaker, mired in a separate scandal over diesel emissions, may have benefited from an unfair tax deal from the Grand Duchy, the report said. The preliminary query is part of a wider crackdown on sweetheart tax deals that's snared some of the world's biggest companies.
While VW could potentially face an order to pay millions of euros in back taxes, it's also possible the regulator could find no wrongdoing and close the dossier.
Copyright RTT News/dpa-AFX