for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

Spain says goodwill tax break not state aid

MADRID, Oct 19 (Reuters) - A tax break Spanish companies get on the goodwill in foreign takeovers, which is under investigation by the European Commission, is not state aid, Budget Secretary Carlos Ocana said on Friday.

Ocana said that if the EU ruled against the tax break, companies that had benefited from the break should not have to pay any money back.

Many of Spain's largest companies have bought companies abroad in the last few years, including Santander SAN.MC, Telefonica TEF.MC and Iberdrola IBE.MC.

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up